Nobitex Restores Services After $90 Million Hack by Pro-Israel Group

- Pro-Israel group Gonjeshke Darande claims responsibility for $90 million hack. - Attack involves political messaging, destruction of stolen funds, and source code release. Iran’s largest cryptocurrency exchange, Nobitex, is gradually restoring its services following a major security breach. On June 18, 2025, attackers stole over $90 million in digital assets from the exchange. On the same day, Elliptic reported that a pro-Israel hacker group named Gonjeshke Darande, or "Predatory Sparrow," claimed responsibility, characterizing the attack as politically motivated rather than financially driven. The hackers transferred the stolen funds to blockchain "vanity addresses" containing anti-Iran political messages that specifically criticized Iran's Islamic Revolutionary Guard Corps (IRGC). Because vanity addresses are computationally inaccessible, the assets were effectively destroyed and rendered unusable. In addition, the hackers released what they claimed was the full source code for the Nobitex platform, further damaging the exchange’s operational integrity. The group alleged that it targeted Nobitex because of its purported ties to the Iranian government and activities that violate international sanctions. Beyond the financial and operational impacts, the hack has sparked wider geopolitical concerns. On June 27, The Crypto Times highlighted findings from blockchain intelligence firm TRM Labs, which indicated that data from the Nobitex hack may have helped Israeli authorities apprehend individuals suspected of spying for Iran. Authorities made these arrests, which they linked to cryptocurrency payments, on June 24, just days after the breach. In response to the cyberattack, Nobitex is restoring its services in phases. The exchange has provided verified users with limited access to their spot wallets and is migrating all user wallets as part of a comprehensive security update. Nobitex confirmed that deposits to old wallet addresses are no longer valid and stressed the need for improved security measures. The exchange's three-phase restoration plan is underway. Nobitex plans to resume withdrawal services for verified users on June 30, followed by full trading and deposit functionalities, although it noted that these timelines might be adjusted. According to CoinMarketCap, as of 12:00 UTC on June 30, Bitcoin (BTC) was trading at $30,512, with its 24-hour trading volume up 1.9%. Meanwhile, Ethereum (ETH) was priced at $1,875, reflecting a 3.2% rise over the same period.