Hackers Destroy $90 Million in Cyberattack on Iran’s Largest Crypto Exchange

On June 18, 2025, Iran’s largest cryptocurrency exchange, Nobitex, suffered a major cyberattack, losing over $90 million worth of digital assets—including Bitcoin, Ethereum, Dogecoin, and various altcoins—according to Elliptic and Chainalysis. The cyber assault was claimed by the hacktivist group Gonjeshke Darande, also known as Predatory Sparrow, believed to have ties with Israeli intelligence.

Unlike conventional thefts, the stolen funds weren’t cashed out. Instead, they were transferred into “vanity addresses” containing anti-IRGC (Islamic Revolutionary Guard Corps) messaging—such as variations on “F‑IRGCterrorists”—for which the attackers hold no private keys. This effectively burned the assets, rendering them permanently inaccessible, signaling a politically motivated strike over financial gain.

Following the hack, Predatory Sparrow reportedly threatened to publish Nobitex’s entire source code. Nobitex took its website and app offline, confirming “unauthorized access” while promising a recovery plan.

This cyber operation mirrors other recent disruptive acts—such as attacks on Iran’s Bank Sepah on June 17—highlighting a broader escalation in digital warfare amid mounting Israel–Iran tensions. Analysts note these incidents herald a new phase of cyberhostilities targeting financial infrastructure with zero human casualties, but potentially massive geopolitical impact