Iran’s largest cryptocurrency trading platform, Nobitex, has confirmed a major security breach that led to a substantial theft from its digital wallets. The company revealed on Wednesday that it had identified unauthorized access to its systems, resulting in a significant outflow of funds from its “hot wallet” a type of digital wallet used for storing active cryptocurrency assets.
Following the breach, Nobitex issued a statement announcing a temporary suspension of its website and mobile application while investigations continue. The platform, which reportedly has over 10 million users, is working to determine the full scope of the attack and has not yet provided a timeline for when services will resume.
Blockchain tracking data indicates that more than $90 million worth of cryptocurrency was siphoned off in multiple transactions. Experts from a crypto forensics firm noted that the stolen assets were “burned,” meaning they were transferred to digital wallets with no known access a tactic often used to permanently remove funds from circulation.
A hacker group calling itself Predatory Sparrow known in Persian as “Gonjeshke Darande” has claimed responsibility for the cyberattack. In a post on social media, the group alleged that Nobitex was being used to funnel funds in support of terrorism and to bypass international sanctions.
This is not the first time the group has launched a cyber offensive targeting Iranian infrastructure. Just a day before the Nobitex attack, the same hackers claimed responsibility for disrupting operations at Bank Sepah, a major financial institution in Iran, leading to widespread issues at ATMs across the country.
These attacks coincide with escalating tensions between Iran and Israel, both of whom have exchanged physical and digital blows in recent weeks. While the identity of those behind Predatory Sparrow remains unclear, the group has a history of targeting Iranian systems and appears to operate in alignment with Israeli interests.
Meanwhile, Iranian media has accused Israel of launching a large-scale cyber offensive aimed at crippling the nation’s digital networks during the ongoing conflict. Authorities in Iran are now under growing pressure to strengthen their cybersecurity measures to protect critical infrastructure and consumer data.
Source: Techcrunch
