Iran Imposes Crypto Exchange Curfew After $100M Nobitex Hack
Iran’s central bank has introduced a curfew for domestic cryptocurrency exchanges following a $100 million cyberattack on Nobitex, one of the country’s largest platforms. The pro-Israel hacking group Gonjeshke Darande claimed responsibility for the breach, which targeted multiple cryptocurrencies including Bitcoin (BTC), Ether (ETH), and Solana (SOL).
Key Details of the Security Incident
- Attackers infiltrated Nobitex’s systems and drained hot wallets
- Stolen funds were intentionally burned, suggesting political motives
- Chainalysis data shows Nobitex processes over $11 billion in transactions
New Regulatory Measures
The imposed curfew restricts exchange operations to 10 am–8 pm local time. Andrew Fierman, Chainalysis’s head of national security intelligence, explains this measure helps authorities monitor transactions more effectively during periods of heightened geopolitical tension.
Exchange Recovery Process
Nobitex has implemented enhanced security protocols and committed to compensating affected users through its Reserve Fund. The platform is transferring remaining assets to cold storage to prevent additional security breaches.
Market Implications
This incident highlights the growing intersection of cybersecurity and geopolitical conflicts in the cryptocurrency space. Analysts suggest similar attacks may increase as tensions persist in the region.
