Crypto Under Fire: How Israelâs âPredatory Sparrowâ Hack Shook Iranâs $90 Million Nobitex Heist
#Binance In mid-June 2025, an anonymous hacking group calling itself Gonjeshke DarandeâFarsi for âPredatory Sparrowââclaimed responsibility for a devastating cyberattack on Iranâs biggest cryptocurrency exchange, Nobitex, wiping out $90 million of digital assets in a single blow . The funds, including Bitcoin, Ethereum, and Dogecoin, were sent to special âvanityâ addresses and effectively burned, locking them forever out of circulation.
What Really Happened? The Breach: On June 18, hackers breached Nobitexâs hot wallets and transferred over $90 million into on-chain addresses without private keys, rendering the coins unrecoverable .Political Messaging: The criminals embedded anti-Revolutionary Guard messages in the addressesââF*ckIRGCterroristsââsignaling a political rather than financial motive .Internet Blackout: Concurrently, Iranâs government imposed a near-total internet shutdown, officially to âmaintain network stability,â though analysts suspect it was also to stifle public panic and hinder forensic investigations .
Who Is Predatory Sparrow? While Israeli media and cybersecurity experts note the operationâs sophistication fits a state-linked actor, there is no official confirmation of Israeli government backing. Security firms describe Predatory Sparrow as an âunusually destructiveâ group with a history of hitting Iranian infrastructureâfrom gas stations to banksâunderscoring its cyber-war capability . Example for Clarity: Think of a digital arsenal: instead of just stealing money, these hackers âscorched the earth,â burning the assets to send a messageâakin to smashing a rivalâs warehouse rather than stealing its goods.
Why It Matters Escalation of Cyber-War: This attack marks a clear escalation from traditional espionage to openly destructive cyber-warfare, targeting civilian finance to pressure Iranâs regime.Market Shockwaves: Nobitex immediately took its platform offline, freezing hundreds of thousands of users out of their funds and stoking fears that no exchange is safeâspurring a brief sell-off across regional crypto markets.Political Leverage: By destroying (not cashing out) the funds, Predatory Sparrow amplifies the political stingâtying crypto directly into geopolitics and sanction-evasion debates.
Is It True? Yes. Multiple independent sourcesâincluding Reuters, AP News, and The Guardianâhave corroborated the $90 million figure, the method of âburningâ assets via vanity addresses, and the timing alongside Iranâs internet blackout . While the groupâs exact sponsorship remains unconfirmed, its own statements and blockchain-forensics reports leave little doubt that Predatory Sparrowâs cyber-onslaught is realâand represents the sharp end of an emerging crypto-infused shadow war. #writetoearn Bottom Line: The Nobitex hack isnât just a headline-grabbing theftâitâs a politically charged cyber-attack that obliterated $90 million on-chain and underscored cryptocurrenciesâ new role as both targets and weapons in modern state conflict. As Israel-Iran tensions simmer, expect more cross-border digital strikes testing the resilienceâand neutralityâof the crypto ecosystem.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
39
0
Explore the latest crypto news
âĄď¸ Be a part of the latests discussions in crypto