Iran’s Nobitex Gradually Reopens Wallets After Cyberattack

Nobitex, Iran’s largest cryptocurrency exchange, is reopening user wallets in stages following a major cyberattack by the group Gonjeshke Darande. Verified users can now access their spot wallets. The attack led to a significant financial impact, reportedly involving losses of up to $100 million. Nobitex has enforced identity verification for access, enhancing security measures.

Nobitex has begun restoring wallet accesses, prioritizing verified users before expanding to other wallet types, reflecting deliberate user safety measures. Iran’s Central Bank imposed a curfew on all domestic crypto exchanges, including Nobitex, to manage potential risks and enhance regulatory oversight. This measure underscores the incident’s impact on national policy.

Nobitex’s $100M Cyberattack Spurs Security Overhaul

The Iranian crypto platform Nobitex experienced a cyberattack resulting in losses estimated at $100 million. Gonjeshke Darande, a pro-Israeli hacker group, claimed responsibility and disclosed their intent on social media platforms.

According to CoinMarketCap data, Bitcoin (BTC) is trading at $108,266.07 with a market cap of $2.15 trillion. BTC’s trading volume surged 13.84% over 24 hours, marking a 0.82% price increase within a day, while its 60-day change reached 15.03%.

“After Bank Sepah, it was Nobitex’s turn.” – Gonjeshke Darande, Hacker Group

Iranian Crypto Regulations Tighten in Response to Hacks

Did you know? Nobitex’s losses parallel the 2019 Binance hack, where security enhancements followed major breaches, illustrating possible evolutionary trends in exchange security protocols.

Coincu analysts believe the incident may prompt stricter regulations and enhanced security protocols in Iran’s cryptocurrency markets. Enhanced user verifications and tighter operational oversight could alter market dynamics. Additionally, adjusting exchange practices may become mandatory to ensure sustained trust and long-term stability within the sector.

Coincu analysts believe the incident may prompt stricter regulations and enhanced security protocols in Iran’s cryptocurrency markets. Enhanced user verifications and tighter operational oversight could alter market dynamics. Additionally, adjusting exchange practices may become mandatory to ensure sustained trust and long-term stability within the sector.