Here is an in-depth summary of the massive hack against Nobitex, the largest cryptocurrency exchange in Iran:
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🕵️♂️ Timeline & Perpetrators
Date of incident: June 18, 2025
Claimed perpetrators: A hacker group called Predatory Sparrow (Gonjeshke Darande), suspected to be linked to Israel.
Motive: Suspected to be part of a geopolitical cyber attack, rather than mere theft of money.
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💸 Funds Lost
Asset value: Approximately $90–100 million (depending on news sources).
Types of assets: Bitcoin, Ethereum, Dogecoin, and stablecoin Tether (USDT).
"Destruction" mechanism: Funds transferred to "vanity addresses" that are impossible to access – effectively burned or locked.
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🌐 Impact on Infrastructure
Nobitex closed site and application access to investigate unauthorized access.
The Iranian government imposed a national internet blockade to contain the impact of system disruptions and investigations.
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🛡️ Reactions & Significance
Regulators & analysts suspect this is part of a regional cyber war between Israel and Iran.
This action demonstrates how digital financial infrastructure can become a strategic target in geopolitical conflicts.
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🧭 Impact Summary
Aspect Fact
Perpetrators Predatory Sparrow (claims responsibility)
Loss value $90–100 million in crypto assets
Method of loss Transfer to inaccessible address → “burned”
Nobitex response Communication of unauthorized access, operational seal of the platform
Government impact Internet blocked for security and investigation
Broader meaning Real geopolitical threat to the crypto and digital finance sector.
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🔎 Additional Analysis
Nobitex had previously been suspected as a means of evading sanctions, with intense ties to Binance + use of TRON for anonymity.
However, in this hack case, the perpetrators seemed more inclined towards political motives & destruction of symbolic assets, rather than pure financial gain.
