An Iranian – based crypto exchange has suffered a major security breach, with a loss of over $48 million. The incident has attracted widespread attention.
The crypto exchange Nobitex confirmed the attack via an X post on June 19. It revealed that on the morning of June 19, its technical team detected signs of unauthorized access to a portion of its reporting infrastructure and hot wallet. Immediately upon detection, all access was suspended, and the internal security teams were closely investigating the extent of the incident. Despite the hack, Nobitex tried to reassure its users that their funds in the cold wallet remained safe and promised to reimburse them. It stated that it accepts full responsibility for this incident and assures users that all damages will be compensated through the insurance fund and Nobitex resources.
A group identifying itself as Gon Jesh Ke Darande, translated as “Predatory Sparrow”, has claimed responsibility for the hack. The group is described as “Israel – linked” by Reuters and The Israel Times. In a public message on the social media platform X, the group accused Nobitex of aiding Iran’s military operations and helping users circumvent global sanctions. They alleged that the platform is not only ignoring sanctions but also actively instructing users on how to bypass them. The group further claimed that employment at Nobitex qualifies as military service under Iranian law, implying the exchange is part of the country’s defense and intelligence infrastructure. As part of the threat, the group warned it would release Nobitex’s source code and internal data within 24 hours, cautioning users that any assets left on the platform could be at risk.
The breach comes during a period of escalating tensions between Israel and Iran, marked by recent missile exchanges between both countries. This attack on Nobitex is part of a wider digital campaign against Iran’s economy. Just one day earlier, Gon Jesh Ke Darande claimed to have breached Iran’s state – owned bank Sepah, whose website remained offline until June 17. The group has a track record of targeting Iranian infrastructure, having caused a major fire at a steel mill in 2022 and disabling over half of the country’s gas stations in 2021. Cyber security firm Recorded Future says the group’s activity indicates strategic intent, possibly supported by Israeli intelligence.
The hack of Nobitex has raised concerns in the crypto market. It not only affects the users of Nobitex but also has an impact on the overall confidence in the security of the crypto industry. With the escalation of the cyber – conflict between Israel and Iran, the incident highlights the growing vulnerability of Iran’s financial sector and the risks facing crypto users amid geopolitical tensions.
Related topic:
