🚨 Nobitex Hack: $100M Lost in Politically Motivated Cyberattack

🔍 What Happened?

On June 18, 2025, hacker group Predatory Sparrow — reportedly linked to Israel — launched a large-scale cyberattack on Iran’s largest crypto exchange, Nobitex. Around $90–100 million worth of crypto assets (BTC, ETH, DOGE, and more) were stolen.

A significant portion of the funds was transferred to burn addresses — wallets that have no private keys — making the assets permanently inaccessible. This action was politically motivated and designed to destroy rather than profit.

📉 Government and Exchange Response

• Nobitex shut down its website and app for investigation.
• Iran’s Central Bank imposed operating-hour restrictions: crypto exchanges can now function only between 10 a.m. and 8 p.m.
• Nationwide internet access was partially cut off — the most severe blackout since 2019.

⚙️ Political Intent Behind the Attack

The attackers did not attempt to profit from the stolen assets. Instead, they left anti-government messages, transferred funds to unspendable wallets, and even leaked the full source code of the Nobitex platform, aiming to destabilize Iran’s crypto infrastructure.

🌐 Market Impact

• Crypto users in Iran face reduced liquidity and limited access.
• Geopolitical cyberwarfare now targets crypto infrastructure.
• User trust in centralized exchanges is declining, especially in conflict zones.

📊 Global Market Reaction

Bitcoin and Ethereum prices dipped slightly as fears of increased geopolitical risk and cyber threats spread across the market. Analysts warn this could lead to stricter global crypto regulations and demand for higher cybersecurity standards.

🛡️ What’s Next?

• Nobitex has promised full user compensation from reserve funds.
• Further attacks are likely — Predatory Sparrow has targeted Iranian banks before.
• Interest is rising in decentralized cold wallets as safer long-term solutions.

📋 Summary

Aspect	Outcome
Scale	$90–100 million lost and burned
Motivation	Political sabotage targeting Iranian crypto
Regulatory Response	Crypto exchanges restricted to daytime hours
Market Effect	Trust shaken, cyber risk heightened, slight price dip

Want more updates like this? Stay tuned — the battle over crypto security is just beginning.