Nobitex, Iran's largest cryptocurrency exchange, has announced the restoration of its services following a recent hack that resulted in a loss of $100 million.
Nobitex Service Restoration
In a post on platform X, Nobitex announced that wallet withdrawals will resume on June 30. Trading and deposits will gradually return, although a specific timeline has not been provided. The exchange emphasized that only users who have completed identity verification will have access to their wallets, with spot exchange users given priority. Nobitex also cautioned users against using old wallet addresses: "Due to wallet system migration, previous addresses are no longer valid, and any deposits made to them may result in loss of funds."
Political Motives Behind the Attack
The hack on Nobitex, which occurred on June 18, is seen as a politically motivated attack amid ongoing geopolitical tensions between Iran and Israel. The pro-Israel hacker group Gonjeshke Darande claimed responsibility for the attack, stating that it targeted Nobitex due to its alleged ties to the Iranian government and role in funding malicious actions. Reports indicate that the group burned $90 million in assets and released the full source code of the exchange following the breach.
Surge in State-Sponsored Cyberattacks
The Nobitex hack adds to a rising trend of state-sponsored cryptocurrency attacks in 2025, with North Korean hackers leading this wave. A recent report indicated that North Korean state-sponsored hackers accounted for nearly 70% of all crypto-related exploit losses this year. South Korean officials have disclosed that North Korean hacking groups are utilizing AI tools to enhance their cryptocurrency theft operations.
The situation with Nobitex serves as an indication of broader issues facing the cryptocurrency industry amidst geopolitical factors and increasing threats from state-sponsored hackers. Keeping an eye on developments, particularly regarding new restrictions imposed by Iranian authorities, will be essential.
