Nobitex Reboots: Iran’s Top Crypto Exchange Reopens After Alleged Israeli Hack

Iranian
crypto exchange Nobitex has started reopening operations,
two weeks after suffering a major cyberattack that led to the loss of nearly $100
million. The exchange confirmed the partial restoration of operations on
Sunday, while trading and deposits remain suspended.

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

Previous Addresses “No Longer Valid”

Nobitex advised users not to send funds to old wallet addresses, warning that deposits
to previously used addresses may result in permanent loss. “Due to the
migration of the wallet system, previous addresses are no longer valid,” the
company said in a statement.

The
reopening followed a June 18 cyberattack by a pro-Israeli hacker group. The group called Gonjeshke Darande, or “Predatory Sparrow,” claimed the hack on social media platform X. They warned they would release Nobitex’s source code and internal files within 24 hours. The hackers used wallet addresses with anti-Iranian messages to move the stolen funds across several blockchains.

Read more: Iranian Crypto Exchange Nobitex Loses $82M in Cyberattack as Israel–Iran Tensions Escalate

The incident
marked one of the most severe cyberattacks against Iran’s financial sector.
Blockchain analytics firm Chainalysis later reported that Nobitex had processed
$11 billion in crypto inflows, suggesting its central role in Iran’s digital
asset infrastructure.

Following Geopolitical Conflicts

The cyberattacks
occurred amid military tensions between Israel and Iran, where Israel carried
out several strikes on Iranian targets earlier. A ceasefire between the two countries later calmed the tension in the Middle East.

Official StatementNobitex Security Incident — June 18, 2025Earlier today, June 18, Nobitex identified unauthorized access to parts of its infrastructure, specifically affecting our internal communication systems and a portion of our hot wallet.Immediately upon detection, all…

— Nobitex | نوبیتکس (@nobitexmarket) June 18, 2025

In response
to the breach, Iranian authorities imposed operating hour limits on domestic
crypto exchanges, restricting services to between 10:00 AM and 8:00 PM. Nobitex said
it plans to gradually resume trading and deposit functions but did not provide
a specific timeline.

However,
despite the theft, security firm Cyvers earlier reported that the stolen assets had not yet been moved or converted into other cryptocurrencies.

This article was written by Jared Kirui at www.financemagnates.com.