Nobitex Hack Causes $90M Loss, Drains Iranian Crypto Flow
- Nobitex hack results in substantial crypto loss and market disruption.
- Iran’s crypto inflow fell by $370 million.
- Crypto confidence in Iranian exchanges notably shaken.
Iran’s crypto flows dropped 11% to $3.7 billion in 2025 after the Nobitex exchange suffered a $90 million hack, involving pro-Israel hackers and significant asset security measures.
The hack diminished confidence in Iranian exchanges, impacted market liquidity, prompted regulatory scrutiny, and altered user behaviors as key assets transitioned to alternative networks and stablecoins.
Iran’s Nobitex exchange suffered a $90 million hack in 2025, executed by the hacker group Predatory Sparrow, affecting significant cryptocurrency flows nationwide.
The hack undermines market trust, leading to an 11% decline in Iran’s cryptocurrency inflows and posing significant regulatory challenges.
Nobitex Loses $90M in Cyber Attack
The attack on Nobitex, Iran’s largest cryptocurrency exchange, has compromised over $90 million in assets. Predatory Sparrow claimed accountability, alleging Nobitex’s role in financing terrorism.
Nobitex assures user safety, emphasizing their use of cold wallets. However, the hack has propagated disruptions in market liquidity and user confidence.
Iran’s Crypto Inflows Drop 11% Post-Hack
The hack caused a significant reduction in crypto inflows to Iran, down 11% year-over-year. Liquidity issues emerged, and users shifted to other exchanges.
Financial implications extend to currency freezes by Tether, targeting Iranian addresses. Regulatory actions and user behavior reflect broader distrust.
Hack Signals Political Tensions, Not Just Financial Loss
Unlike past hacks mainly aimed at financial gain, this attack serves a broader political message. It draws parallels with previous breaches involving sanction circumventions.
“It seems to have been more of a symbolic hack, as opposed to one where the intention is financial.” – Arda Akartuna, Lead Crypto Threat Researcher, Elliptic.
Experts suggest continued shakeups in user confidence with potential for further regulatory tightening. History indicates similar events could lead to crypto policy revisions.
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