Iranian crypto exchange Nobitex hacked for $48 million.

It was an unlikely event, but it happened. Recently, a popular crypto exchange in Iran, Nobitex hacked, causing damages of more than $48 million. This is considered one of the most serious incidents in the Iranian crypto industry, and Iran itself is currently in a state of war. It is very unfortunate.

Nobitex hacked

According to current data, the stolen coins are: mostly ETH, USDT and BTC. The money was sent to the following TRON wallets: TKFuckiRGCTerroristsNoBiTEXy2r7mNX

It has had a huge impact on users, making it impossible to withdraw their funds in such a dire situation and during a time of war, this crypto from the people who might have needed it to survive in times of war has been stolen.

On‑chain analysts report finding “suspicious outflows” from various Nobitex wallets, revealed by researcher ZachXBT.

The Israeli-linked “Predatory Sparrow” or “Gonjeshke Darande” attackers claimed responsibility and threatened to release the source code and internal data within 24 hours.

Nobitex hacked reaction and effects

• Nobitex said the breach only occurred in hot wallets and reporting infrastructure, but cold storage remains secure.
• The platform has temporarily suspended access to the website and app and initiated an immediate investigation.
• Nobitex announced that it will take full responsibility and will compensate for the damages from its own insurance fund and resources.

What is Nobitex Crypto Exchange?

Nobitex is the largest cryptocurrency exchange in Iran, providing a platform for users to buy, sell, and trade digital assets such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and other cryptocurrencies.

Overview of Nobitex

• Name: Nobitex (short for “No Border Internet Exchange”)
• Founded: Around 2018
• Based in: Tehran, Iran
• Target Audience: Iranian users looking for a local, rial-supported crypto trading platform
• Website: https://nobitex.ir (only accessible inside Iran or via VPN)

Key Features Nobitex

• Rial integration: Allows Iranians to trade crypto directly with Iranian Rial (IRR)
• Local compliance: Tailored to Iranian regulations and financial restrictions
• Fiat-Crypto Gateway: One of the few services in Iran that acts as an entry/exit point between fiat and crypto
• Mobile and Web Platforms: Provides apps and browser-based dashboards
• Markets Offered: Spot trading for major cryptocurrencies

Why Nobitex Crypto Exchange It’s Significant

Sanctions workaround: Due to international sanctions, many Iranians use Nobitex as a financial workaround for cross-border value storage and transfers via crypto.

User Base: Nobitex reportedly has over 1 million users, making it a dominant force in the Iranian crypto space.

Controversies

Regulatory gray area: Operating in a country with financial sanctions means international cooperation is limited.

Security concerns: As seen in the recent hack, hot wallets can be a target for cyberattacks.

Limited transparency: Compared to global exchanges like Binance or Coinbase, Nobitex offers less public reporting.

Summary of the crypto exchange Nobitex hack incident

Iranian crypto exchange Nobitex suffered a massive hack, losing $48 million in assets via the Tron network. A hacking group claiming to be “Predatory Sparrow” has claimed responsibility, threatening to release the code and internal data within 24 hours.

Nobitex clarified that the incident only affected hot wallets, while cold wallets remain secure, and the company will compensate users in full from internal funds. The website and app have been temporarily suspended while an investigation is conducted.

The incident has affected user confidence and may prompt Iranian authorities to tighten security rules in the future.

Reference: Verster Community

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