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Iran’s leading crypto exchange, Nobitex, revealed on Wednesday that it fell victim to a hack that resulted in millions being stolen from its hot wallet.
The Cyberattack
According to a statement on its website, Nobitex found unauthorized access to its infrastructure and hot wallet, leading to the draining of funds stored for its customers. The company is currently investigating the incident, with its website and app temporarily unavailable.
The Fallout
Hackers managed to steal around $90 million from Nobitex in multiple transactions, as confirmed by blockchain analysis firm Elliptic. The stolen funds were then “burned” by the hackers, making the crypto inaccessible and effectively removing it from circulation.
The Culprits
The cyberattack was claimed by the pro-Israel hacking group Predatory Sparrow, accusing Nobitex of funding terrorism for the Iranian regime and evading international sanctions. This group has a history of targeting Iranian organizations with destructive cyberattacks, while also causing widespread outages in Iran’s Bank Sepah ATMs.
As tensions between Israel and Iran escalate, cyber warfare has become a new battleground. With no clear attribution to Predatory Sparrow, their motives and affiliations remain mysterious, though their actions suggest an alignment with Israeli interests.
Iranian reports suggest that Israel is engaged in a significant cyber war against Iran’s digital infrastructure to disrupt essential services amidst the ongoing military conflict.
