Inomis00

The ongoing Israel-Iran conflict has taken a dramatic turn into the digital realm, with cryptocurrencies caught in the crossfire. On June 18, 2025, an anti-Iranian hacking group with suspected ties to Israel, known as Gonjeshke Darande, executed a sophisticated cyberattack on Nobitex, Iran’s largest crypto exchange, destroying $90 million in digital assets. The attack, which also targeted Iran’s state-owned Bank Sepah a day earlier, marks a new phase in the conflict where blockchain technology is weaponized as a geopolitical tool.According to TRM Labs, the hackers moved funds to wallets denouncing Iran’s Islamic Revolutionary Guard Corps, with the stolen assets effectively “burned” to send a political message. Elliptic’s analysis further revealed Nobitex’s past transactions with wallets linked to groups hostile to Israel, raising alarms about the exchange’s role in sanctions evasion. U.S. Senators Elizabeth Warren and Angus King, who flagged Nobitex’s activities in a 2024 letter, are now calling for stricter global crypto regulations to prevent such platforms from becoming battlegrounds in international conflicts.The Nobitex hack has had a ripple effect on crypto markets, which were already reeling from the Israel-Iran conflict’s escalation. The global market cap dropped by $200 billion since June 12, when Israel launched “Operation Rising Lion” targeting Iran’s nuclear facilities. Bitcoin held steady above $100,000, but altcoins like NEAR Protocol and Dogwifhat (WIF) saw double-digit losses. “Crypto exchanges in conflict zones are now high-value targets,” warned Maria Sanchez, a cybersecurity expert at BeInCrypto. “This hack exposes vulnerabilities that could erode trust in decentralized finance if not addressed.”Iranian authorities have accused Israel of orchestrating the attack to destabilize its economy, while Israel has not officially commented. Meanwhile, crypto traders are navigating a volatile landscape, with some pivoting to stablecoins like USDT to weather the storm. “The Israel-Iran cyberwar is a wake-up call for the industry,” said Sanjay Patel, CEO of CryptoSafe Solutions. “Exchanges must bolster security, and regulators need to act before digital assets become collateral damage in global conflicts.”
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