Iran Crypto Hack: Nobitex Exchange Targeted – $90M Burned
- A pro-israel hacking group, "Predatory Sparrow," has claimed responsibility for a cyberattack against Nobitex, Iran's largest cryptocurrency exchange.
- Nobitex first reported the security breach on X, formerly Twitter, early June 19, stating that unauthorized access to its reporting infrastructure and hot wallet had been detected.
- Shortly after Nobitex's declaration, Predatory Sparrow took credit for the cyberattack via their own X account.
A pro-Israel hacking group, “Predatory Sparrow,” has brazenly claimed responsibility for a cyberattack on Nobitex, Iran’s largest crypto exchange. They reportedly stole and destroyed over $90 million in cryptocurrency in an act that appears politically motivated. Nobitex confirmed a security breach, leading to the immediate suspension of access and an internal review. The hackers, rather than profiting, sent the funds to vanity addresses with anti-IRGC messages, signaling a destructive intent. Elliptic’s analysis points to potential ties between Nobitex and Iranian leadership. This follows another attack on Bank Sepah, highlighting the growing trend of cyber warfare. Stay ahead of the curve as News directory 3 continues to report the latest developments. Discover what’s next in this escalating digital conflict.
Pro-Israel group claims $90M Cyberattack on Nobitex Crypto Exchange
A pro-israel hacking group, “Predatory Sparrow,” has claimed responsibility for a cyberattack against Nobitex, Iran’s largest cryptocurrency exchange. The group alleges it stole more than $90 million in cryptocurrency and then destroyed the funds in what appears to be a politically motivated act.
Nobitex first reported the security breach on X, formerly Twitter, early June 19, stating that unauthorized access to its reporting infrastructure and hot wallet had been detected. The company said it immediately suspended access and launched an internal examination.
Shortly after Nobitex’s declaration, Predatory Sparrow took credit for the cyberattack via their own X account. The group threatened to release Nobitex’s source code and internal data. Nobitex’s website has been offline as the incident.
According to blockchain analysis firm Elliptic, over $90 million in cryptocurrency was drained from Nobitex’s wallets and transferred to addresses controlled by the hackers. however, instead of keeping the stolen funds, the hackers sent the crypto to vanity addresses containing anti-Islamic Republic Guard Corps (IRGC) messages.
Elliptic noted that creating such vanity addresses requires meaningful computational power,suggesting the hackers intentionally burned the crypto,making it inaccessible to anyone.”The hack also does not appear to be financially motivated,” Elliptic said.
Elliptic’s investigation also revealed alleged ties between Nobitex and the IRGC, as well as Iranian leadership. Other researchers have previously linked the exchange to relatives of supreme Leader Ali Khamenei, IRGC-affiliated business interests, and sanctioned individuals reportedly using Nobitex to move funds from ransomware operations.
This cyberattack follows a similar breach of Iran’s Bank Sepah, claimed by Predatory Sparrow, where the focus was on disruption rather than financial gain.
These incidents occur as Iran increases its isolation from the global internet, a move seen as an effort to mitigate the risk of escalating cyberattacks on its infrastructure.
What’s next
The investigation into the Nobitex cyberattack is ongoing. The incident highlights the increasing risk of cyberattacks and the potential for politically motivated actors to target cryptocurrency exchanges.