Key Notes
- The platform has warned users against depositing funds into old wallet addresses due to a system migration.
- The cyberattack, linked to the pro-Israel group Gonjeshke Darande, involved the destruction of $90 million in assets.
- A Chainalysis report shows that Nobitex is vital to Iran’s crypto infrastructure as the largest exchange, handling $11 billion in inflows.
Nobitex, the Iran crypto exchange that suffered a major hack, losing $100 million during the Iran-Israel war, has finally announced its decision to restore operations.
The exchange announced that wallet access would be restricted to users who have completed identity verification, prioritizing those on the spot exchange.
Nobitex also cautioned users against depositing cryptocurrency into the old wallets, warning that doing so could result in a loss of funds. It noted: “Due to the wallet system migration, previous addresses are no longer valid, and any deposits made to them may result in loss of funds”.
Follow- up on Nobitex Security Incident, Step-by-step wallet access has begun, 29 June 2025
Please note:
1. This process is being carried out gradually, starting with verified users and initially for spot wallets, followed by other types of wallets.
2. The identity…
— Nobitex | نوبیتکس (@nobitexmarket) June 29, 2025
Withdrawals on Nobitex began on June 30. The exchange said other activities like depositing and trading will resume gradually, but no timeline has been given yet.
Nobitex Is the Backbone of Iran’s Crypto Infrastructure
The $100 million Nobitex hack was a politically motivated attack by the pro-Israel hacker group Gonjeshke Darande. They destroyed $90 million in assets and leaked the exchange’s full source code, targeting Nobitex for its alleged ties to the Iranian government and funding of malicious activities.
Blockchain analytics platform Chainalysis also stated that Nobitex has ties to some malicious actors, including some sanctioned entities. A report from data analytics platform Chainalysis highlights Nobitex’s pivotal role in Iran’s crypto ecosystem.
The exchange recorded inflows of $11 billion, surpassing the combined $7.5 billion inflows of the next ten largest Iranian exchanges.
State-sponsored cyberattacks have increased in 2025, with North Korean hackers leading the charge. A report released Friday revealed that the North Korean state-sponsored group responsible for the $1.5 billion Bybit hack in February accounts for nearly 70% of this year’s total losses from exploits.
A report by TRM Labs highlights a sharp rise in cyberattacks within the cryptocurrency sector during the first half of 2025, with 75 incidents causing losses exceeding $2.1 billion.
April proved particularly devastating, as PeckShield recorded 18 major crypto hacks that resulted in the theft of approximately $357.11 million from investors.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
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