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Hackers steal and destroy millions from Iran’s largest crypto exchange
Iran's largest crypto exchange, Nobitex, responded to a hack that drained over $90 million from its hot wallet. The pro-Israel group Predatory Sparrow claimed responsibility, citing the exchange's alleged support for terrorism. The attack reflects escalating cyber tensions between Israel and Iran amidst ongoing military conflicts.
Key points
- Nobitex was hacked, leading to unauthorized access and a loss of at least $90 million.
- The stolen funds were burned by sending them to inaccessible wallets, meaning they were permanently removed from circulation.
- Predatory Sparrow claimed responsibility for the hack, alleging Nobitex financed terrorism and evaded sanctions.
- The hack coincided with another attack on Iran's Bank Sepah, causing widespread ATM outages.
- Nobitex serves over 10 million customers and temporarily shut down its website and app for investigation.
Why it matters
- This attack is part of an escalating cyber conflict between Israel and Iran, reflecting broader geopolitical tensions.
- The cyberattack highlights vulnerabilities within the cryptocurrency sector, as it becomes a target for politically motivated hacking groups.
- Predatory Sparrow's actions showcase the growing trend of hacktivism, where cyberattacks serve political or ideological agendas.
The Nobitex hack underscores a significant intersection of cryptocurrency security and international geopolitics, highlighting the ongoing cyber warfare as a potent tool in modern conflicts.