DUBAI, United Arab Emirates — In a dramatic cyberattack with far-reaching geopolitical implications, hackers have drained more than $90 million USD from Nobitex, Iran’s largest cryptocurrency exchange, according to multiple blockchain analytics firms.
The group claiming responsibility, known as Gonjeshke Darande — or “Predatory Sparrow” in Farsi — has possible links to Israel, though this remains unconfirmed by Israeli authorities. The hackers announced the breach on their Telegram channel, leaking what they described as Nobitex’s full source code and warning that “ASSETS LEFT IN NOBITEX ARE NOW ENTIRELY OUT IN THE OPEN.”
Blockchain firm Elliptic reported that the stolen funds were moved to wallet addresses carrying messages critical of Iran’s Revolutionary Guard Corps. Rather than profiting, the hackers appear to have “burned” the crypto holdings to send a political message, Elliptic noted.
This breach comes amid escalating tensions following recent Israeli strikes on Iran’s nuclear facilities and military leadership, which triggered retaliatory missile attacks from Tehran. Cybersecurity experts believe the hack is part of a broader digital offensive, citing Predatory Sparrow’s history of high-profile attacks, including a 2021 operation that crippled Iran’s gas stations and a 2022 strike on a steel mill that caused a major fire.
Nobitex has seemingly confirmed the attack, stating on X that it is investigating “unauthorized access” and has taken its website and app offline. The stolen assets reportedly span various cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, and others, which is a significant blow given Iran’s relatively small crypto market.
The hackers accused Nobitex of helping Iran’s government bypass Western sanctions and funnel funds to sanctioned groups like the Houthis in Yemen and Hamas. Elliptic claims it found evidence linking the exchange to Supreme Leader Ali Khamenei’s relatives and Revolutionary Guard operatives.
This incident has reignited concerns among U.S. lawmakers about Iran’s use of crypto to dodge sanctions. Senators Elizabeth Warren and Angus King previously flagged such activities as a growing risk.
As investigations continue, Nobitex users are demanding answers and stronger security guarantees to protect their digital assets in a region fraught with economic and political instability.
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