Iran’s Nobitex Crypto Exchange Hit by $90 Million Hack
Published: June 18, 2025 — Reuters
Key Facts:
The Iranian cryptocurrency exchange Nobitex was targeted by a major cyberattack attributed to a group calling itself “Predatory Sparrow,” believed to be linked to Israel. This “state‑aligned hacking” resulted in the theft—and effective destruction—of around $90 million in cryptocurrencies, which were transferred to hacker-held wallets and rendered inaccessible.
Attackers accused Nobitex of assisting the Iranian government in evading sanctions and funding hostile activities. The exchange’s site has been taken offline, and Nobitex has not responded to inquiries.
Blockchain forensics confirmed links between Nobitex and addresses tied to groups like Hamas and the Houthis—reinforcing the politically motivated nature of the strike.
The hack follows a prior cyberattack on Iran’s Bank Sepah, and comes amid escalating Iran–Israel tensions. U.S. senators had previously warned about Nobitex’s role in sanction circumvention. Analysts say this is a clear example of geopolitical conflict spilling into—and destabilizing—the crypto ecosystem.
Market Impact:
This breach underscores how geopolitical cyber warfare can swiftly erode trust in regional crypto platforms, potentially driving funds into more secure, offshore exchanges or stablecoin refuges.
