Latest news with #Nobitex
Daily Maverick
5 days ago
- Business
- Daily Maverick
Hackers hit Iran's largest cryptocurrency exchange, while global crypto markets tumble after US bombing
At the intersection of geopolitics and cryptocurrency, a sophisticated cyberattack on Iran's financial infrastructure has reverberated through global crypto markets, offering sobering lessons for regulators worldwide. In what appears to be one of the most politically motivated cryptocurrency heists in history, the pro-Israel hacker group Gonjeshke Darande (Predatory Sparrow) infiltrated Iran's largest crypto exchange, Nobitex, making off with between R1.5-billion and R1.8-billion in bitcoin, ethereum, dogecoin, XRP and solana. But here's the twist: it wasn't about the money. Instead, the hackers 'burned' the stolen cryptocurrency, permanently removing it from circulation by sending it to inaccessible wallet addresses — a digital equivalent of setting cash on fire. The attackers used provocative 'vanity addresses' containing explicit anti-terrorist messages, making their political motivations crystal clear. After the IRGC's 'Bank Sepah' comes the turn of Nobitex WARNING! In 24 hours, we will release Nobitex's source code and internal information from their internal network. Any assets that remain there after that point will be at risk! The Nobitex exchange is at the heart of the… — Gonjeshke Darande (@GonjeshkeDarand) June 18, 2025 'Unlike typical hacks for financial gain, the intent here appears to have been politically motivated, aiming to take funds away from the regime,' according to an analysis of the incident. The same group also claimed responsibility for simultaneously destroying data at Iran's state-owned Bank Sepah, which they accused of funding Iran's military. The sophistication of these attacks has led security experts to suggest they're beyond the capabilities of typical activist hackers and more in line with nation-state operations. Iran's crypto curfew response Iran's central bank responded by imposing strict operating hours on domestic crypto exchanges, limiting them to 10am-8pm daily. This 'crypto curfew' appears designed to prevent capital flight during periods of high geopolitical tension and assert greater control over citizens' cross-border cryptocurrency transactions. It's not the first time Iran has flexed its regulatory muscles over crypto. In December, the central bank temporarily shut down all exchanges to prevent the national currency, the rial, from depreciating further. The timing couldn't be worse for Iranian crypto users. Chainalysis notes that Nobitex plays a critical role in Iran's crypto ecosystem, processing more than R200-billion in total inflows, significantly more than the next 10 largest Iranian exchanges combined. For Iranian users cut off from traditional finance due to international sanctions, it serves as a crucial gateway to global crypto markets. Lessons for Africa When national currencies face devaluation due to economic instability or sanctions, cryptocurrencies and stablecoins can serve as stores of value. This is particularly relevant in African countries experiencing high inflation or currency instability. Unlike traditional financial systems that can be easily shut down or restricted by governments, cryptocurrency networks operate across borders and are more difficult to completely block, though governments can still restrict access to exchanges and on-ramps. Iran's crypto curfew shows how quickly governments can impose restrictions during crises. This uncertainty can affect market access and asset values. The key is staying informed about local regulations, using reputable exchanges with strong security practices, and understanding that while cryptocurrency can provide financial flexibility during uncertain times, it's not immune to geopolitical shocks and market volatility. Global market meltdown The crypto market's reaction to escalating Middle East tensions has been swift and brutal. Following US airstrikes on Iranian nuclear facilities and President Donald Trump's hints at potential regime change, global cryptocurrency markets shed more than R20-billion in liquidations within 24 hours. Bitcoin crashed below the six-figure mark for the first time in 45 days. Ethereum plummeted to its lowest price since May, while solana dropped by 8%. The Block's GMCI30 index, tracking the top 30 cryptocurrencies, slid by nearly 10% over the week, with smaller altcoins faring even worse — small caps plunged by 17% and AI-linked tokens plummeted by 20%. Perhaps most tellingly, Iran's parliament urged leaders to consider closing the Strait of Hormuz, a crucial artery for global oil shipments. While Iran has never successfully closed the strait, the mere threat rattled markets and highlighted how quickly geopolitical tensions can spill over into financial markets. The selloff challenges the narrative of bitcoin as a 'safe haven' asset during geopolitical uncertainty. Instead of flocking to crypto, traders opted to cash out, suggesting that fear temporarily outweighed any safe haven appeal. African lessons in regulatory balance The Iranian situation offers valuable lessons for African regulators grappling with how to approach cryptocurrency regulation. Sub-Saharan Africa has the world's highest rate of stablecoin adoption at 9.3%, with Nigeria ranking as the world's second-largest adopter of digital assets. But the Nobitex hack serves as a reminder of the cybersecurity risks associated with centralised exchanges. African countries and exchanges need robust security protocols, regular audits, and clear incident response plans to protect user funds and maintain trust. Perhaps most importantly, the Iranian situation demonstrates the dangers of regulatory ambiguity. Iran's central bank warnings conflict with the pervasive use of crypto in the country, creating uncertainty that can be exploited by bad actors or lead to poorly designed reactive policies. DM
The Hill
5 days ago
- Politics
- The Hill
Iranian-aligned hackers claim responsibility for Truth Social cyberattack
Hackers aligned with Iran have claimed responsibility for a cyberattack on President Trump's Truth Social platform, according to the cyber nonprofit Center for Internet Security (CIS). The Iran-aligned hacking group 313 Team took credit for a distributed denial of service (DDos) attack on Truth Social within hours of U.S. strikes on several Iranian nuclear facilities Saturday, a CIS spokesperson confirmed. Truth Social reportedly saw a surge in reports of problems Saturday night, shortly after Trump posted on the site about the 'very successful attack' on the nuclear sites Fordow, Natanz and Esfahan, Wired reported. The hack comes as cyberattacks have ramped up amid increasing tensions between Iran, Israel and the U.S. Iran and Israel have volleyed attacks back and forth in recent weeks following Tel Aviv's surprise attack on Tehran's nuclear facilities. An Israel-linked hacking group took responsibility for cyberattacks against Iran's largest crypto exchange last week, transferring more than $90 million out of Nobitex wallets, according to the blockchain analytics firm Elliptic. However, the hackers likely did not have the private keys to access the addresses where the stolen funds were sent, meaning they were effectively destroyed. The Nobitex hack came one day after the group, known as Gonjeshke Darande or Predatory Sparrow, also claimed responsibility for the hack of a state-owned Iranian bank.
WIRED
21-06-2025
- Politics
- WIRED
Israel Says Iran Is Hacking Security Cameras for Spying
Amid Israeli airstrikes this week and the imminent threat of further escalations by the United States, Iran started severely limiting internet connectivity for its citizens, limiting Iranians' access to crucial information and intentionally pushing them toward domestic apps that may not be secure. Meanwhile, the Israel-tied hacking group known as Predatory Sparrow is waging cyberwar on Iran's financial system, attacking Iran's Sepah Bank and destroying more than $90 million in cryptocurrency held by the Iranian crypto exchange Nobitex. With the US still reeling from last weekend's violent shooting spree in Minnesota targeting Democratic state lawmakers and their families, an FBI affidavit indicates that the suspected shooter allegedly used data broker sites to find targets' addresses and potentially other personal information about them. The finding highlights the potential dangers of widely available personal data. This week, WIRED published its How to Win a Fight package, which includes our roundup of tools for tracking the Trump administration's attacks on civil liberties, plus the most up-to-date versions of our guides to protecting yourself from government surveillance, protesting safely in the age of surveillance, and protecting yourself from phone searches at the US Border. While you're at it, don't forget to print your own copy of the How to Win a Fight zine! Better yet, print two and leave one at your local coffee shop or library. And there's more. Each week, we round up the security and privacy news we didn't cover in depth ourselves. Click the headlines to read the full stories. And stay safe out there. Israeli officials said this week that Iran is compromising private security cameras around Israel to conduct espionage as the two countries exchange missile strikes after an initial Israeli barrage. A former Israeli cybersecurity official warned on public radio this week that Israelis should confirm that their home security cameras are protected by strong passwords or shut them down. 'We know that in the past two or three days, the Iranians have been trying to connect to cameras to understand what happened and where their missiles hit to improve their precision,' Refael Franco, the former deputy director general of the Israel National Cyber Directorate, said. Like many internet-of-things devices, surveillance cameras are notoriously vulnerable to takeover if they are not secured with strong account protections. They have previously been targeted in other conflicts for intelligence gathering. The Kyiv Post reported this week that hackers from Ukraine's Main Intelligence Directorate (HUR) launched a cyberattack against Russian internet service provider Orion Telecom that disabled 370 servers, took down roughly 500 network switches, and wiped backup systems to hinder recovery. The attacks reportedly caused internet and television outages. Orion Telecom reportedly said that it was recovering from a large DDoS attack and would quickly restore service. The attack came on June 12, the national holiday known as Russia Day. 'Happy holiday, disrespectful Russians," the attackers wrote in a message circulated on Telegram groups. "Soon you'll be living in the Stone Age—and we'll help you get there. Glory to Ukraine.' The attackers claim to be part of Ukraine's BO Team hacking group. Sources told the Kyiv Post that Russian security agencies working on the country's war against Ukraine use Orion Telecom and were affected by the connectivity outages. Bloomberg reported this week that the satellite communication firm Viasat discovered a breach earlier this year perpetrated by China's Salt Typhoon espionage-focused hacking group. In early December, US authorities revealed that Salt Typhoon hackers had embedded themselves in major US telecoms, including AT&T and Verizon. After revelations last year of the group's extensive telecom hacking spree in the US and elsewhere, WIRED reported in February that Salt Typhoon was still actively breaching new victims. Viasat says it has been cooperating with federal authorities to investigate its breach. The United Kingdom's Information Commissioner's Office (ICO) said this week that it issued a £2.31 million ($3.1 million) fine to the beleaguered genetic testing company 23andMe as a result of the company's damaging 2023 data breach. Attackers were able to access user accounts and their data using stolen login credentials, because at the time 23andMe did not require that users set up two-factor authentication, which the ICO says violated the UK's data protection law. The company has since mandated this protection for all users. More than 155,000 UK residents had their data stolen in the breach, according to the ICO, which said that 23andMe 'did not have additional verification steps for users to access and download their raw genetic data' when the breach occurred.
Time of India
20-06-2025
- Business
- Time of India
Pro-Israel hackers nab $90 million from Iranian crypto exchange - then burn it all in symbolic blockchain move
An Israeli operatives-linked hacking group known as Predatory Sparrow , also known as Gonjeshke Darande , claimed that it stole over $90 million from Iran's largest crypto exchange, Nobitex , only to destroy the money instead of keeping it, so as to send a political message, as per a report. Israeli-Linked Hackers Strike Iranian Crypto Exchange The attack comes at a time of heightened tensions between Iran and Israel, and the hackers made their motives clear as the group posted on social media platform X, 'These cyberattacks are the result of Nobitex being a key regime tool for financing terrorism and violating sanctions,' quoted Fortune. Hackers didn't keep a single cent Crypto analytics firm Elliptic revealed that instead of cashing out the $90 million of Bitcoin, Dogecoin, and over 100 different cryptocurrencies that Predatory Sparrow raided, the hacking group chose just to destroy, 'burn' in crypto parlance, the funds, as they wanted to send a political message, according to the report. ALSO READ: Circle stock soars again as Senate passes groundbreaking Stablecoin Bill, analysts say it's still a Buy Why the Hack Was Meant to Send a Message As per Fortune, the blockchain addresses, or locations in a database that record how much money someone has, are usually randomly generated, which usually consist of a garbled string of numbers and letters. However, for this operation, Predatory Sparrow sent the hacked funds to addresses that included the phrase 'F***iRGCTerrorists,' where IRGC refers to the Islamic Revolutionary Guard Corps , a branch of the Iranian army, reported Fortune. Live Events The lead crypto threat researcher at Elliptic, Arda Akartuna, explained that '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,' as quoted in the report. Akartuna pointed out that, 'So, it seems to have been more of a symbolic hack, as opposed to one where the intention is financial,' quoted Fortune. Nobitex responds While, Nobitex wrote on its X account after the hack, saying, 'The vast majority of assets are stored in cold wallets and were not impacted,' as quoted in the report. FAQs Who carried out the hack on Nobitex? A group called Predatory Sparrow, believed to be linked to Israeli intelligence, claimed responsibility. What did the hackers do with the money? They destroyed it as they 'burned' the funds, instead of profiting from the theft. Economic Times WhatsApp channel )
NDTV
20-06-2025
- Business
- NDTV
Pro-Israel Hackers Steal $90 Million In Iranian Crypto Heist, Then Lose All
A pro-Israel hacking group on Wednesday drained over $90 million worth of cryptocurrency from an Iranian exchange. But multiple crypto tracking firms believe that Gonjeshke Darande, or 'Predatory Sparrow' in Farsi, lost all of the proceeds from the heist after reportedly 'burning' them in the process. The funds are now inaccessible after they were stored in 'vanity addresses' for which they do not have the cryptographic keys, The Guardian reported. On June 18, the group said it hacked the Nobitex exchange, a day after claiming they destroyed data at Iran's state-owned Bank Sepah amid escalating tensions between Israel and the Islamic Republic. Cryptocurrencies such as Doge, Ethereum and Bitcoin were taken from digital wallets on the Iranian exchange Nobitex, which has been connected to the Islamic Revolutionary Guard Corps. According to crypto tracking firm Elliptic, over $90 million in cryptocurrency was transferred from Nobitex crypto wallets to hacker addresses. The stolen funds were routed to addresses containing some variation of the term 'F*ckIRGCterrorists'. In a social media post on X, Predatory Sparrow confirmed that it had targeted Nobitex and later released its source code. 'Predatory Sparrow would not have the private keys for the crypto addresses they sent the Nobitex funds to, and have effectively burned the funds in order to send Nobitex a political message,' Elliptic said. Predatory Sparrow is frequently reported in Israeli media as having Israeli connections, although there has been no official proof of the hackers' identity or nationality. 'Although there is no confirmation yet that the funds were moved by Predatory Sparrow, the hack appears to be motivated by the recent escalation of tensions between Israel and Iran,' Elliptic added. Nobitex claims to have over 7 million users and is Iran's main cryptocurrency exchange. Past investigations by independent reporters have revealed linkages between Nobitex and IRGC-linked ransomware operatives and individuals close to Iran's Supreme Leader, Ali Khamenei. The attack occurred amid growing tensions between Israel and Iran, with the two countries exchanging missile strikes, targeting crucial military installations. On Thursday, the US said it would wait for another two weeks before getting directly involved in the conflict, while Russia warned Israel against targeting the Bushehr nuclear power plant. Earlier, President Donald Trump said his patience was running out with Iran. He issued threats to Supreme Leader Ayatollah Ali Khamenei, who then hit back, saying any intervention from the US would result in 'irreparable damage.'
