Hacked Iranian crypto exchange Nobitex slowly restores services

The Iranian cryptocurrency exchange Nobitex, which suffered a politically motivated hack on June 18, 2025, losing around $90-100 million, has begun slowly restoring its services, starting primarily with verified users.

A pro-Israel hacker group claimed responsibility, framing the attack as a political statement against Nobitex’s alleged ties to the Iranian government and sanctioned entities. The group burned approximately $90 million in assets by transferring them to addresses they controlled but did not have private keys for, effectively destroying the funds.

Nobitex is prioritizing withdrawal services for users who have completed identity verification, initially enabling access to spot wallets. Other wallet types and buying selling/deposit functions will be restored gradually, though no exact timeline has been provided.

The exchange has migrated to a new wallet system and warned users not to deposit funds to old wallet addresses, as these are now invalid and could lead to permanent loss.

Nobitex is Iran’s largest crypto exchange, critical to the country’s crypto infrastructure, with inflows exceeding $11 billion, far surpassing other Iranian exchanges combined. The hack and its aftermath have prompted Iranian regulators to impose operational restrictions on domestic exchanges, limiting their activities to certain hours to enhance oversight.

This hack highlights the geopolitical tensions impacting cryptocurrency platforms, with increasing state-sponsored cyberattacks targeting crypto exchanges globally, emphasizing the need for enhanced security and regulatory vigilance.

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