Iran’s Largest Crypto Exchange, Nobitex, Hacked and Millions Stolen
Reports surfaced on Wednesday that Nobitex, Iran’s largest cryptocurrency exchange, fell victim to a cyberattack resulting in the theft of millions of dollars from its hot wallet. The exchange confirmed unauthorized access to its infrastructure and hot wallet, where a portion of customers’ digital assets are stored. As a result, Nobitex’s website and app are currently unavailable as the company investigates the breach.
According to public records, the hackers managed to siphon off at least $90 million through multiple transactions. Blockchain analysis firm Elliptic revealed that the stolen funds were transferred to inaccessible wallets, effectively removing them from circulation.
Nobitex boasts a customer base of over 10 million users, as indicated by an archived version of its website from last week. However, the exchange’s security vulnerabilities were exploited by the Pro-Israel hacking group known as Predatory Sparrow, also referred to as “Gonjeshke Darande” in Farsi. The group claimed responsibility for the attack, citing Nobitex’s alleged involvement in financing terrorism for the Iranian regime and circumventing international sanctions.
Interestingly, Predatory Sparrow had previously targeted Iran’s Bank Sepah, causing widespread ATM outages across the country. This cyberattack coincided with escalating tensions between Israel and Iran, with both nations engaging in military actions against each other.
Despite the lack of concrete evidence linking Predatory Sparrow to any specific entity, the group has a history of launching destructive cyberattacks against Iranian organizations, aligning with Israeli interests. The ongoing cyber warfare between Israel and Iran has prompted Iranian news outlet IRIB to report Israel’s aggressive digital assaults on Iran’s infrastructure.
As the situation unfolds, the cryptocurrency community remains vigilant in monitoring the fallout from Nobitex’s security breach and the implications of cyber warfare in the volatile Middle East region.
