Iran’s Crypto Exchange Suffers $100 Million Hack Amid Ongoing Conflict with Israel
Published: June 19, 2025, 7:44 PM ET
In a significant cyberattack, Iran’s largest cryptocurrency exchange, Nobitex, has reported a loss of $100 million in assets, leading to widespread internet blackouts across the nation. The incident occurred amidst escalating tensions between Iran and Israel, as the conflict between the two nations continues to intensify.
Internet Blackouts Affect Millions
Following the cyberattack, Iran’s Ministry of Communications announced restrictions on internet access throughout the country. The blackouts began shortly after the breach was identified and have reportedly extended into Thursday, limiting citizens’ ability to access news and information regarding the ongoing conflict with Israel.
Provocative Claims by the Hacker Group
The pro-Israeli hacking group known as "Predatory Sparrow" claimed responsibility for the attack, asserting that Nobitex was facilitating Iran’s evasion of Western sanctions and indirectly supporting the nation’s nuclear program. In a statement shared on Telegram, the group proclaimed, “ASSETS LEFT IN NOBITEX ARE NOW ENTIRELY OUT IN THE OPEN.”
While the exchange has not yet confirmed the details of the hacking, it has taken precautionary measures by shutting down its app and website to investigate the unauthorized access found within their systems.
Nature of the Attack
Nobitex’s breach reportedly involved the theft of multiple cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin. According to Andrew Fierman, head of national security intelligence at Chainalysis, the attack is especially notable given the relatively modest scale of Iran’s cryptocurrency market.
“This breach highlights vulnerabilities within a system that’s increasingly important for users and investors alike, particularly in a region with heightened geopolitical tensions,” Fierman stated.
Previous Incidents Linked to Predatory Sparrow
Predatory Sparrow is known for its past high-profile cyberattacks targeting Iranian infrastructure. The group previously claimed responsibility for a hack in 2021 that paralyzed Iran’s gas stations, as well as a 2022 cyberattack that caused a significant fire at a steel mill. Although Israel has implied connections to the group, it has not officially acknowledged any ties.
Internet Monitoring and Historical Context
The current blackouts have drawn comparisons to previous internet restrictions in Iran. According to Netblock, a firm that monitors global internet access, this latest round of blackouts is the most severe Iran has experienced since the civil unrest that erupted in 2019. The outages have left many citizens in the dark regarding developments in the war with Israel, as well as other crucial information.
As tensions escalate and cyber warfare capabilities continue to develop, the ramifications of such attacks ripple beyond financial loss, impacting public access to information and the broader geopolitical landscape.
For further updates on this ongoing situation, stay tuned to reliable news sources.