Iran’s Largest Crypto Exchange Nobitex Begins Wallet Restoration After $90M Hack by Israeli-Linked Group

Iran’s Top Crypto Exchange Recovers From $90M Hack Amid Rising Tensions

Nobitex, Iran’s largest digital currency exchange, is slowly regaining its footing after a devastating cyberattack that shook the country’s crypto scene.

The breach, reportedly carried out by the pro-Israeli hacker group Gonjeshke Darande, resulted in financial damage estimated as high as $90 million, disrupting user access and prompting a major security overhaul.

Wallet Access Restored In Stages With New ID Checks

The exchange began restoring access on 29 June 2025, but not without limits.

Only verified users are being granted access to spot wallets for now, with other wallet functions to follow in later stages.

Nobitex has made identity verification mandatory to access any features, part of a broader move to reinforce account security.

Users without completed KYC procedures will be unable to check balances or carry out transactions, including deposits and withdrawals.

The platform warned users against sending crypto to old deposit addresses, saying funds sent to outdated wallets could be lost permanently.

Nobitex has confirmed that the timeline for full service restoration may shift depending on technical progress.

Cyberattack Deepens Regulatory Pressure Across Iran’s Crypto Sector

The scale of the attack triggered swift regulatory intervention.

Iran’s Central Bank responded by imposing a curfew on all domestic crypto exchanges, including Nobitex, aiming to prevent further risks and tighten oversight.

This move reflects a broader concern about the security of digital financial infrastructure in the country.

The attackers took credit for the breach through public messages.

In one X post, Gonjeshke Darande—also known as "Predatory Sparrow," a pro-Israel hacker group responsible for several cyberattacks against Iran—stated, “After Bank Sepah, it was Nobitex’s turn,” referencing a prior breach involving one of Iran’s state-run banks.

The group’s intent was clear—and politically charged—further escalating tensions in a region already under strain.

Internal Shakeups And Delays As Platform Rebuilds Trust

Internally, Nobitex has been working through a series of technical setbacks and service limitations following the breach.

Industry sources estimate the damage to be around $90 million, factoring in frozen user funds and reduced trading operations during platform migration.

A wallet system upgrade is now underway, aimed at boosting resilience and user confidence.

Customer support remains operational via live chat and phone, but the company has warned that verification delays and the complexity of the restoration process could slow response times.

Nobitex has been sharing progress through in-app alerts and social media, assuring users that security and data integrity remain the top priority.

Crypto Chaos Or Growing Pains?

The Nobitex incident may be a wake-up call for crypto exchanges operating in high-risk environments.

In a digital world where borderless finance meets geopolitics, securing user assets isn’t just a technical challenge—it’s a test of institutional maturity.

When crypto becomes a target in political conflict, are platforms ready to defend more than just code?