Nobitex, Iran's largest crypto exchange, suffered a hack resulting in the loss of over $90 million in various cryptocurrencies. The group Predatory Sparrow claimed responsibility, stating the attack was a protest against the exchange's role in financing terrorism. Uniquely, instead of stealing the funds, they 'burned' them to send a political message. This incident illuminates the intersection of cryptocurrency and rising geopolitical tensions, particularly in the Israeli-Iranian conflict. The majority of Nobitex's assets remained secure in cold wallets, minimizing the impact of the hack.
These cyberattacks are the result of Nobitex being a key regime tool for financing terrorism and violating sanctions, reported the hacking group.
To generate addresses with so many specific terms inside it would require so much computing power that you're not going to do it within any reasonable lifetime.
The vast majority of assets are stored in cold wallets and were not impacted, Nobitex wrote on X after the hack.
I've never seen a hack that has occurred in the way that this one has, said a lead crypto threat researcher.
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