Approximately $90 million has been stolen from Iran’s largest cryptocurrency exchange, Nobitex, by a pro-Israeli hacking group known as Predatory Sparrow. They claimed responsibility in a statement on social media platform X.
The high-profile cyberattack is believed to be aimed at undermining Iran’s economic position amid heightened tensions following Israel’s military strikes on Tehran.
The hackers claim that the Nobitex crypto exchange is being used by Iranian authorities to evade international sanctions.
More shockingly, it is possible that the group transferred the stolen digital assets to virtual wallets that cannot be accessed again, in what is seen as an attempt to permanently wipe out the funds involved.
Iran’s largest crypto exchange, Nobitex, confirmed the cyberattack in a statement on its official website on Wednesday, saying that access to the platform had been temporarily “suspended” as a precaution until further notice.
Blockchain tracking firms Elliptic and TRM Labs also confirmed that digital assets were stolen and sent to several crypto wallets containing provocative messages against Iran's Islamic Revolutionary Guard Corps (IRGC).
Following the incident, the government-affiliated Fars news agency warned of possible disruptions to banking services and fuel supplies at gas stations.
Meanwhile, sources in Tehran told CNN that they visited about 10 ATMs on Tuesday and Wednesday, but all were found to be inoperative or out of cash.
The high-profile cyberattack marks a significant escalation in a shadow conflict between Israel and Iran that has been simmering in cyberspace for years.
The two countries are said to be engaged in digital espionage, cyber sabotage and data destruction attacks to gain a tactical advantage in regional geopolitical tensions.
