One of the differences in the cryptocurrency market is that it is available 24 hours a day. However, the Central Bank of Iran is recommending that all national exchanges operate only from 10 am to 8 pm.
The action takes place shortly after the exchange Nobitex suffered a hack of R$ 450 million. The information was presented by Chainalysis this Wednesday (18).
Banks and television channels are also being targeted by hackers in the country, which is waging a war with Israel.
Largest Iranian exchange was used by terrorists, says Chainalysis.
The attack on Nobitex drew attention not only for the amount but mainly because the hackers burned the cryptocurrencies after stealing them, sending them to uncontrollable addresses. In other words, it was a political attack.
In addition to claiming responsibility for the attacks, the group Gonjeshke Darande, linked to Israel, stated that the exchange was used to finance terrorist actions and violated sanctions.
According to investigations by Chainalysis, the exchange was used by ransomware operators linked to the Islamic Revolutionary Guard Corps (IRGC) and entities connected to networks affiliated with the Houthis and also Hamas.
The company also highlights the size of Nobitex, whose operations were larger than those of the other 10 Iranian exchanges combined.
Central Bank of Iran recommends that exchanges do not operate at night.
Fearing new attacks, the Central Bank of Iran recommended that cryptocurrency exchanges operate under limited hours. The security of banks and other institutions is also being tested.
“According to reports, the Central Bank of Iran instructed all domestic cryptocurrency exchanges to limit their operating hours between 10 am and 8 pm, suggesting an attempt to exert greater oversight and control over the sector.”
“This operational curfew may signal increasing pressure on exchanges operating in Iran as the regime tries to manage systemic risks in a market that plays a disproportionate role in evading global sanctions,” wrote Chainalysis.
Although Nobitex claimed that only its hot wallets were affected in the attack, the exchange's website is still unavailable at the time of this writing.
On social media, the exchange stated this Thursday (19) that “the scope and impact of the attack are more complex than initially estimated,” promising a return within 4 to 5 days.
In conclusion, Chainalysis emphasizes that Nobitex was not just a cryptocurrency exchange, but a country's heavily sanctioned access point to the global market.$USDC
