Pro-Israel Hackers Wipe $90 M from Iran Crypto Giant/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ Hackers drained $90 million from Nobitex, Iran’s top crypto exchange, amid rising Israel-Iran tensions. The stolen funds were deliberately destroyed in what analysts say was a politically motivated cyberattack. Nobitex also confirmed a data breach and took its platforms offline.
Nobitex Crypto Hack + Quick Looks:
- $90 million in crypto stolen and burned by hacktivist group.
- Predatory Sparrow claims attack was political, not financial.
- Source code for Nobitex leaked online via Telegram.
- Hack follows earlier cyber hit on Iran’s Bank Sepah.
- Blockchain firms confirm IRGC and militant group ties to Nobitex.
- Nobitex services offline; internal investigation underway.
- Part of broader cyber-war as Israel-Iran tensions escalate.
Pro-Israel Hackers Wipe $90 M from Iran Crypto Giant
Deep Look
In a major escalation of cyber-warfare tied to the Israel-Iran conflict, Iran’s largest cryptocurrency exchange, Nobitex, has been targeted by a high-profile cyberattack that resulted in over $90 million in digital assets being wiped from circulation. The hacking group, Gonjeshke Darande—also known as Predatory Sparrow—claimed responsibility, stating the funds were destroyed intentionally to protest the Iranian regime.
The attack, which affected holdings in Bitcoin, Ethereum, Dogecoin, and several other cryptocurrencies, was not financially motivated, according to analysts. Instead, it was described as a political statement, with stolen funds sent to digital wallets featuring messages that criticized the Islamic Revolutionary Guard Corps (IRGC).
Predatory Sparrow also posted what it claimed was the complete source code of Nobitex on Telegram, declaring, “Assets left in Nobitex are now entirely out in the open.” The group accused the platform of aiding Iran in circumventing Western sanctions and transferring funds to militant organizations.
Blockchain analytics firms, including Elliptic and Chainalysis, corroborated the group’s claims, pointing out links between Nobitex and crypto wallets used by Hamas, Yemen’s Houthis, and other Iranian allies. The attack follows another earlier in the week that targeted Iran’s Bank Sepah, destroying internal data.
Nobitex responded by acknowledging “unauthorized access” and temporarily shutting down both its website and app to assess the damage. Security analysts consider this breach especially significant given Iran’s relatively small but growing crypto economy.
Iran’s Supreme Leader Ali Khamenei and his relatives are reportedly linked to Nobitex through various financial entities. Previous concerns had already been raised by U.S. Senators over Iran’s use of cryptocurrency to bypass global sanctions.
Predatory Sparrow is not new to such operations. The group previously disrupted gas station networks in 2021 and ignited a fire at a steel mill in 2022, both within Iran. Although widely believed to have ties to Israeli intelligence, the Israeli government has never officially confirmed any connection.
This latest cyberattack highlights the increasing role of digital warfare in geopolitical conflicts, with cryptocurrency infrastructure emerging as a vulnerable and highly symbolic target. As tensions escalate between Israel and Iran, cyberattacks like this are likely to become a recurring front in the broader conflict.
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