Hackers dealt a blow to Iran’s crypto space on June 18, 2025, by targeting Nobitex, the country’s primary crypto exchange. The Iran Nobitex crypto cyber attack reportedly affected $100 million in various cryptocurrencies, including Bitcoin, Ethereum, and Solana, which they later drained and destroyed.
The groups which carried out the attack went by the name of Gonjeshke Darande (Predatory Sparrow). They used custom made blockchain addresses which had anti-IRGC messages. Money was not the motive, it was political. Security experts report that the attack was of nation state level sophistication which they think included Israeli affiliated operations.
Just in the wake of the incident associated with the cyber attack on Iran’s Nobitex crypto exchange, the hackers published Nobitex’s full source code. This included system architecture, blockchain storage scripts, and security protocols. As a result, the attack was raised to that of full-scale cyber warfare, firmly highlighting the Iran Nobitex crypto cyber attack.
Government To Issue Curfew
In response, Iran’s Central Bank introduced a crypto exchange curfew. At the moment, platforms like Nobitex are open and have been reduced to 10 AM to 8 PM. Previously, the market had no off hours. Therefore, this is a 40% reduction in trading availability, following the event surrounding Iran’s Nobitex crypto attack.
The government reports that there has been an increase in monitoring efficiency. Additionally, they report a reduction of vulnerability during off-peak hours. But critics put forth that this is also a move to put down crypto’s role in avoiding sanctions.
This clamp down comes after it was reported that Nobitex facilitated transactions. These transactions included IRGC-associated actors, Hamas affiliates, and Russian exchanges under US sanctions. Gonjeshke Darande said the platform was a tool for illegal finance. According to him, its staff are extensions of Iran’s regime.
Nobitex Crypto Cyber Attack Leaves Users And Markets Reeling
In its 10+ million user base, Nobitex is the core of Iran’s crypto space with 87% of the national crypto action. Post the cyber attack on Nobitex, which they managed to weather, the platform moved to secure the remaining assets into cold storage. The Iran Nobitex crypto cyber attack prompted them to also disable access to the apps and close off external access.
Execs are to make good on all losses via the Nobitex Reserve Fund. Delayed recovery which is a result of platform down time, ongoing internet outages, and national issues.
Blockchain analysis reported that $48 million was lost in the TRON network. Other tokens were put out to EVM chains and burned in access-denied wallets. Following the Nobitex crypto attack in Iran, Tether may issue back $55 million in USDT. However, for the greater part, that money is gone for good.
Cyber security experts report political statements indicating a shift in the game. The Iran Nobitex crypto cyber attack serves as an example of how crypto exchanges are now players in large-scale geopolitical games.
