Michaela
Iran’s largest cryptocurrency exchange, Nobitex, has begun restoring services to its users after suffering a major security breach carried out by the pro-Israel hacking group “Gonjeshke Darande,” which drained at least $81.7 million in digital assets.
In a June 29 announcement posted on its official X account, the crypto exchange stated that it began gradually restoring platform functionality, beginning with verified users and prioritizing access to spot wallets. The exchange added that support for other wallet types will be reintroduced in subsequent phases of the recovery process.
“Once the accuracy and security of all information is confirmed, Nobitex will begin displaying wallet balances in phases,” Nobitex wrote. “If you are unable to view your wallet balance yet, please wait until your account verification is finalized. As stated in our previous announcement, the process is expected to be completed by mid-week,” the exchange added.
Nobitex cautioned that the timeline for restoring full services may be subject to change, citing potential technical challenges and the need for additional security evaluations. The exchange emphasized that it is working to reinstate withdrawal, deposit, and trading functions for verified users as swiftly and securely as possible.
Furthermore, Nobitex advised users against sending cryptocurrency to previously used wallet addresses on the platform, warning that such deposits may not be recognized or recoverable. “Due to the wallet system migration, previous addresses are no longer valid, and any deposits made to them may result in loss of funds,” Nobitex wrote.
The exchange also warned that if a user’s old deposit address is linked to a mining rig or set as a default withdrawal address on an external blockchain service, it must be removed and replaced with the updated personal wallet address. Alternatively, users should wait for Nobitex to assign a new address.
In the wake of the security breach, Nobitex affirmed that user assets remain “completely secure,” citing adherence to cold storage protocols. The exchange clarified that the breach was confined to a portion of funds stored in hot wallets. It further reassured users that any losses incurred would be fully compensated through its insurance fund and internal reserves.
Soon after Nobitex officially acknowledged the breach, the hacking group Gonjeshke Darande, translated from Farsi as “Predatory Sparrow”, claimed responsibility for the attack in a statement shared on X.
The Israel-linked hacking group claimed it targeted the crypto exchange due to its alleged role in financing terrorism and helping Iran evade sanctions. The group also asserted that working at the exchange is considered valid military service, emphasizing its ties to the Iranian regime. “Associating with regime terror financing and sanction violation infrastructure puts your assets at risk,” it warned.
According to the Wall Street Journal, Nobitex CEO Amir Rad stated the exchange’s investigation into the breach suggested backing from the Israeli government. He emphasized that Nobitex operates as a private company with no ties to the Iranian government or military.
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Michaela informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
