TLDR
Nobitex begins phased reopening post-$90M hack; verified users regain access.
Hacker group Gonjeshke Darande claims exploit, destroys funds, leaks source code.
Nobitex migrates user wallets, warns against deposits to old addresses.
Nobitex processed $11B in inflows, dominating Iran’s crypto market share.
Iran’s largest cryptocurrency exchange, Nobitex, has begun restoring limited services following a $90 million exploit earlier in June. The company confirmed it is gradually reopening its platform to verified users after the attack, which was claimed by a group believed to be pro-Israel.
According to a company statement posted on X, users who have completed identity verification will now be able to access their accounts. However, deposit, withdrawal, and trading functions remain disabled for all users. Nobitex also said it expects to re-enable withdrawals by Monday, June 30, though the timeline may shift.
Security Breach Attributed to Pro-Israel Hacker Group
The attack has been linked to Gonjeshke Darande, a group that has claimed previous cyber activities aligned with Israeli interests. This group reportedly destroyed the stolen assets after the exploit and released parts of Nobitex’s source code online.
TRM Labs, a blockchain intelligence firm, said there is speculation that information taken during the hack may have been used to support arrests of Iranian agents in Israel. The agents were reportedly paid through cryptocurrency channels, according to the firm’s assessment.
The full extent of the source code exposure has not been disclosed. Nobitex has not confirmed how much of its backend systems were affected, but it did announce that user wallets were migrated. The platform warned that deposits to previous wallet addresses would no longer be valid.
Platform Migration and Wallet Update
As part of its response, Nobitex has transferred user funds to new wallets. The company issued a public advisory informing users not to deposit funds to old addresses. This measure was taken to prevent further unauthorized access and ensure platform stability.
The exchange did not provide specific details on the structure of the new wallets or the technology used to protect them. It also refrained from offering a full technical explanation of how the breach occurred.
Nobitex’s development team continues to monitor activity and said security remains a top priority. Amir Rad, Nobitex’s CEO, stated that the company is working with cybersecurity experts and conducting an internal investigation into the incident.
Nobitex’s Dominance in Iran’s Crypto Market
Chainalysis data shows Nobitex processed over $11 billion in inflows, far ahead of other Iran-based exchanges, which collectively reached $7.5 billion. The exchange holds a dominant share in the country’s crypto activity, making it a key player in Iran’s digital asset landscape.
The same Chainalysis report linked Nobitex to accounts connected to sanctioned Russian platforms and ransomware operators allegedly tied to Iran’s Islamic Revolutionary Guard Corps. Despite this, CEO Amir Rad emphasized that Nobitex is a private company with no military or state ties.
“The attack was well-funded and aligned with the interests of a foreign state,” Rad said on social media, referencing Israel. He added that the company operates independently from Iran’s government or armed forces.
Gradual Service Resumption and User Communication
While Nobitex has not resumed full functionality, it has remained active in updating users through its social media platforms. Verified account holders were the first to regain access as the company tested the stability of its systems.
Future updates regarding withdrawals and trading will be shared as progress continues. Nobitex has not offered a set date for when all users will regain access to full services.
The restoration process is expected to proceed cautiously, with the company emphasizing safety before restoring normal operations. The June exploit remains one of the largest publicly known crypto attacks targeting an Iranian platform.
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