Iran-Israel War Triggers $90M Hack On Iran’s Nobitex Crypto Exchange, Linked to Israeli Cyber Group

Nobitex confirmed that it detected unauthorized access to its infrastructure and hot wallets, but stated that the majority of customer assets remain secure in cold storage.

Tensions between Iran and Israel spilled into the digital arena this week, with Iran’s largest cryptocurrency exchange, Nobitex, reportedly hacked for over $90 million. Blockchain analysis firm Elliptic attributed the attack to Predatory Sparrow, a hacker group believed to be aligned with Israeli interests.

Bitcoin’s (BTC) price continued to trend downwards on Wednesday. The cryptocurrency hit an intraday low of $103,800 amid heightened tensions in the Middle East, which continue to weigh on sentiment. Stocktwits data shows retail sentiment around Bitcoin has remained in ‘bearish’ territory over the past week.

Elliptic said the attackers used blockchain wallets with inflammatory phrases like “F*ckIRGCterrorists” embedded in the public keys – a tactic that suggests a political rather than financial motive. The stolen funds were sent to inaccessible wallets, effectively removing the crypto from circulation.

The attack follows a warning issued by Predatory Sparrow, also known by its Farsi name Gonjeshke Darande, which claimed responsibility for breaching Nobitex and threatened to publish the exchange’s source code by June 18. The group also claimed responsibility for a separate hack on Iran’s state-owned Bank Sepah one day earlier.

Predatory Sparrow called Nobitex “the regime’s favorite sanctions violation tool” and said the exchange plays a central role in financing terrorism. The group claimed that working at Nobitex is equivalent to military service in Iran.

Nobitex confirmed that it had detected unauthorized access to its infrastructure and hot wallets, but stated that the majority of customer assets remain secure in cold storage. “All damages will be compensated through the insurance fund and Nobitex resources,” the company stated.

The hack came as military escalation between Iran and Israel has been ongoing for nearly a week. On June 13, Israel launched its most significant military strike on Iranian soil since the 1980s, resulting in at least 140 reported fatalities over the past 24 hours. 

The conflict has since evolved into ongoing missile exchanges, raising fears of a broader regional war in the Middle East.

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