Cryptocurrency exchange Nobitex, at the center of a major security incident, has begun the process of restoring user wallet access following a hack that resulted in over $90 million in losses.
Introduction to the Nobitex Incident
Nobitex, Iran's largest cryptocurrency platform, reported a significant hacking incident that occurred on June 18. Investigations reveal that hackers drained between $90 million to $100 million from hot wallets, including Ethereum, Tron, Bitcoin, ETH, and Dogecoin.
Process for Restoring Access
On June 29, Nobitex released an update outlining a phased recovery process for users, starting with verified accounts. Currently, only spot wallets are being unlocked, with other wallet types to follow later. Users are advised to wait for confirmation before attempting to access their balances, which will be displayed gradually.
Security Measures Post-Hack
In response to the incident, Nobitex is migrating to a new wallet system. The platform has warned users not to deposit funds into old addresses, as this may result in permanent loss of funds. Hackers gained access to the platform using compromised employee credentials, leading to the leak of internal information and source code.
Nobitex continues to work on restoring user trust and stabilizing its operations. All users are urged to remain vigilant and follow security recommendations until all services are fully resumed.
