Hackers attack Iran's cryptocurrency exchange, destroying $90 million

The attack targeted Nobitex, one of the largest cryptocurrency exchanges in Iran #BinanceAlphaAlert

Wednesday's attack targeted Nobitex, one of the largest cryptocurrency exchanges in Iran. The hackers claimed that the platform allegedly helps the Iranian government evade sanctions and finance illicit operations around the world in a message posted on the group's social media.

The offensive began in the early hours of the morning when funds were transferred to wallets controlled by hackers denouncing Iran's Islamic Revolutionary Guard Corps (IRGC), said the blockchain analysis firm TRM Labs, which estimated the theft at around $90 million.

The head of national security intelligence at Chainalysis, Andrew Fierman, confirmed in an email to Reuters that the attack involved around $90 million and was likely geopolitically motivated, as the money was destroyed.

Nobitex's website was down on Wednesday. Messages sent to the company's support channel on Telegram went unanswered. Gonjeshke Darande also did not respond to requests for comment.

Nobitex stated in a post on X that it has taken its website and app offline while investigating an "unauthorized access" to its systems.

Gonjeshke Darande is a known hacker group with a history of sophisticated cyber attacks against targets in Iran. In 2021, an operation claimed by the group caused widespread disruptions at gas stations, and in 2022, an attack on an Iranian steel mill caused a large fire.$BTC

Israel has never formally acknowledged being behind the group, although Israeli media often describes Gonjeshke Darande as "linked to Israel."