Nobitex Resumes Withdrawals After $100M Hack
Nobitex Partially Resumes Withdrawals Following Major Hack
Iranian cryptocurrency exchange Nobitex, which suffered a $100 million hack earlier this month by the pro-Israel group Gonjeshke Darande, has begun restoring services. The exchange initially announced the resumption of withdrawals for verified users on June 30th, prioritizing spot exchange users.
Important Note: Nobitex warns users against depositing funds into old wallet addresses, emphasizing that previous addresses are invalid and deposits sent to them will be lost due to wallet system migration.
The exchange's phased recovery includes the gradual reinstatement of trading and deposit functionalities, although specific timelines remain unannounced. The hack, which involved the burning of $90 million in assets and the release of Nobitex's source code, is considered a politically motivated attack given the ongoing geopolitical tensions between Iran and Israel.
A Politically Charged Cyberattack
Gonjeshke Darande claimed responsibility, citing Nobitex's alleged ties to the Iranian government and its facilitation of transactions for malicious actors. A Chainalysis report highlights Nobitex's significance within Iran's crypto infrastructure, noting $11 billion in inflows—significantly exceeding the combined inflows of the next ten largest Iranian exchanges.
Following the attack, Iranian authorities imposed restrictions on domestic cryptocurrency exchanges, limiting operational hours to between 10 am and 8 pm.
Rise in State-Sponsored Hacks
The Nobitex incident underscores a broader trend of increasing state-sponsored cyberattacks targeting the cryptocurrency industry. North Korean state-sponsored hackers, responsible for a $1.5 billion attack on Bybit in February, are reportedly behind nearly 70% of crypto exploit losses in 2025. These attacks are increasingly sophisticated, with reports surfacing of North Korean groups utilizing AI tools like ChatGPT to enhance their hacking capabilities.
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