Iran’s largest cryptocurrency exchange, Nobitex, has reported a security breach resulting in significant losses of digital assets. The incident occurred against a backdrop of escalating tensions between Iran and Israel.
Incident Description
On June 18, Nobitex acknowledged unauthorized access to its hot wallet and infrastructure. Access was immediately suspended following detection of the incident.
Nobitex's Response and Damage Assessment
The exchange vowed to use its insurance fund and internal reserves to fully compensate affected clients, assuring users that cold-stored funds remain safe. According to blockchain investigator ZachXBT, the estimated loss is around $81.7 million.
Context and Political Aspects
The hack coincided with rising tensions between Israel and Iran, following reciprocal strikes last week. The hacker group Gonjeshke Darande claimed responsibility for the breach, accusing Nobitex of facilitating sanctions evasion, and threatened to release internal data from the exchange.
The ongoing events surrounding Nobitex highlight the intricate links between cybersecurity and geopolitics, with further investigation results expected to have significant implications for the regional cryptocurrency market.
