Iran’s biggest cryptocurrency platform, Nobitex, has been hit by a severe cyberattack that led to the loss of over $90 million worth of digital assets. The attack was reportedly carried out by a hacker group known as Predatory Sparrow, which has ties to Israel. Unlike most hacks where stolen funds are moved for profit, this attack appears to have been politically motivated — the hackers deliberately destroyed the funds by sending them to burn addresses that cannot be accessed or recovered.
The hackers drained large amounts of Bitcoin, Ethereum, and other assets from Nobitex’s hot wallets in a coordinated and rapid operation. The stolen crypto was then sent to blockchain addresses labeled with anti-Iran messages, effectively removing the funds from circulation.
Alongside the attack, the group released what they claimed to be the full backend source code of Nobitex and threatened to publish more internal data if the platform resumes operations without full disclosure.
As of now, Nobitex’s website and mobile app remain offline. Iranian authorities have imposed temporary restrictions on other local crypto platforms while they investigate the incident. Users of Nobitex have reported being unable to access their funds, and peer-to-peer trading in the country has been disrupted as a result.
This event has drawn significant attention because Nobitex plays a major role in Iran’s crypto ecosystem, serving millions of users. It has also faced previous criticism from international watchdogs for allegedly being used to bypass financial sanctions and support groups affiliated with the Iranian government.
The hack highlights the growing risks that crypto platforms face — not just from financially driven attackers, but also from politically motivated groups. It also raises questions about the security of centralized exchanges, especially those operating in high-risk regions.
For now, the future of Nobitex remains uncertain, and trust in Iran’s crypto infrastructure has been deeply shaken. Many users are expected to shift to self-custody solutions or move their activity to foreign exchanges once restrictions are lifted.
Disclaimer: This article is for informational purposes only and is not investment advice. Investors should research carefully before making any decisions. We are not responsible for your investment decisions.
