Iranian cryptocurrency exchange Nobitex has begun restoring its services after a major hack earlier this month by the pro-Israel hacker group Gonjeshke Darande, which resulted in a $100 million loss from the platform.
In an update shared on Tuesday via X, Nobitex announced that withdrawal services would resume on June 30, with trading and deposit functionalities being gradually reintroduced. No specific timeline for full restoration was provided. Only users who have completed identity verification will access their wallets, with priority given to spot exchange users. The exchange also warned against depositing funds into old wallet addresses due to system migration, as these addresses are now invalid and could result in the permanent loss of funds.
Follow- up on Nobitex Security Incident, Step-by-step wallet access has begun, 29 June 2025
Please note:
1. This process is being carried out gradually, starting with verified users and initially for spot wallets, followed by other types of wallets.
2. The identity…
— Nobitex | نوبیتکس (@nobitexmarket) June 29, 2025
This attack on Nobitex was not merely financially motivated. Hacker group Gonjeshke Darande, which has openly aligned itself with Israel, claimed responsibility and stated that it targeted the exchange due to its alleged connections with the Iranian government and malicious actors. The group reportedly burned $90 million of the stolen assets and leaked the entire source code of the platform as a political statement amid heightened tensions between Iran and Israel.
Data from blockchain analytics firm Chainalysis highlights the significance of Nobitex in Iran’s crypto landscape. The exchange recorded $11 billion in inflows, making it the largest in the country, while the next ten exchanges combined saw $7.5 billion in inflows. Chainalysis also noted Nobitex’s ties to sanctioned entities and other malicious actors in its onchain analysis.
In response to the breach, Iranian authorities have imposed tighter controls on domestic cryptocurrency exchanges, restricting their operational hours to between 10:00 a.m. and 8:00 p.m.
This incident occurs amid a surge in politically motivated cyberattacks on cryptocurrency platforms worldwide. In particular, North Korean state-sponsored hackers have intensified their targeting of exchanges. Earlier this year, North Korean hackers were linked to a massive $1.5 billion exploit on Bybit, accounting for nearly 70% of total crypto losses from hacks so far in 2025.
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