Nobitex recovers from $90M cyberattack as Iran vs Israel conflict eases

Iran’s largest cryptocurrency exchange, Nobitex, is struggling to restore services after a devastating cyberattack allegedly carried out by a pro-Israeli hacking group amid the Iran vs Israel conflict. The breach, which resulted in losses exceeding $90 million, demonstrates how geopolitical tensions are increasingly playing out in the digital realm.

The attack, claimed by the group Gonjeshke Darande, has raised alarms over the vulnerability of financial infrastructure in the Iran vs Israel conflict, with cryptocurrency exchanges becoming prime targets.

Nobitex’s slow recovery amid heightened security fears

Nobitex, Iran’s leading crypto platform, was breached on June 12, forcing an immediate shutdown of operations. The exchange has since begun a phased restoration of services, prioritizing users who have completed identity verification.

• Spot wallets (primary trading accounts) are being reactivated first.

• Withdrawals are expected to resume June 30, followed by trading and deposits.

• Users are warned not to send funds to old wallet addresses, as the exchange has migrated to a new system.

Nobitex CEO Amir Rad denied any ties to the Iranian government but acknowledged the attack had “state-backed elements,” pointing fingers at Israel. This incident underscores how the Iran vs Israel conflict is no longer confined to military strikes but extends into cyber warfare.

Hack exposes Nobitex’s ties to sanctioned groups

Beyond the immediate fallout, the attack has brought Nobitex under intense scrutiny. Investigations reveal troubling connections:

• Transactions linked to Hamas and Houthi-affiliated entities, as flagged by Israel’s National Bureau for Counter Terror Financing (NBCTF).

• Facilitation of trades with Gaza Now, a media outlet sanctioned for Hamas ties.

• Alleged dealings with Russian crypto exchanges Garantex and Bitpapa, both under international sanctions.

These findings suggest that Nobitex may have been operating in high-risk financial corridors, making it a strategic target in the Iran vs Israel conflict.

Cyber warfare becomes a new battleground in Iran vs Israel conflict

The Nobitex hack is part of a broader trend where nation-state hackers exploit cryptocurrency platforms to inflict economic damage. The Gonjeshke Darande group framed the attack as a strike against Iran’s financial infrastructure, signaling a shift toward digital economic warfare.

Globally, crypto theft has surged, with over $2.1 billion stolen in 2025 alone. The Nobitex breach reinforces concerns that exchanges in politically volatile regions are especially vulnerable.

As the Iran vs Israel conflict intensifies, experts warn that more cyberattacks targeting financial systems could follow. For now, Nobitex users remain in limbo, waiting to see if their assets can be fully recovered—or if this hack will mark another chapter in the shadow war between the two adversaries.