Cyberattack Sparks Collapse in Iranâs Crypto Exchange
Iranâs crypto ecosystem took a major hit when its largest exchange, Nobitex, was targeted by the hacker group âPredatory Sparrow,â who stole over $90 million worth of assetsâBitcoin, Ethereum, and Dogecoinâbefore destroying access to the funds in politically charged wallets. The platform remains offline amid user panic and operational chaos.
This devastating breach, linked to wider cyberwarfare with Israel, has shattered local trust in digital asset infrastructure. Following the incident, Iranâs crypto market flows dipped 11% in the first seven months of 2025, compared to the same period last yearâvolumes in June fell over 50%, and July crashed more than 75%.
Even stablecoin liquidity was disruptedâTether froze 42 Iran-linked wallets, destabilizing settlement channels and deepening the financial crisis.
$BTC $ETH $DOGE #IranCrypto #CyberWar #cryptocrash #BinanceSquare Do you think Iranâs crypto ecosystem can recover, or is decentralization the only viable hedge now? Comment, like, share and follow!