Hacked Iranian crypto exchange Nobitex has begun the process of restoring services after it was attacked by pro-Israel hacker group Gonjeshke Darande earlier this month.
The exchange stated that only users who have completed identity verification will have access to the wallet, with spot exchange users being given priority.
Nobitex said users should avoid depositing their crypto into the exchange’s old wallets, as it could lead to users losing their funds.
“Due to the wallet system migration, previous addresses are no longer valid, and any deposits made to them may result in loss of funds,” the post read.
In a Tuesday post on X, Nobitex said that it will enable withdrawal services from June 30. Further, the exchange said that operational activities such as trading and depositing will be rolled out gradually; however, no specified timeline was provided.
On June 18, the Iranian exchange was hacked for $100 million.
A politically motivated hack
The hack was seen as a political statement amid the ongoing geopolitical tensions between Iran and Israel, as Nobitex is the largest cryptocurrency exchange in Iran.
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Pro-Israel hacker group Gonjeshke Darande took responsibility for the hack. The group proceeded to burn $90 million worth of assets and released the full source code of the exchange.
The hacking group said it targeted Nobitex as it has ties to the Iranian government and funds malicious actors.
A report released by data analytics platform Chainalysis revealed that Nobitex is vital to Iran’s crypto infrastructure. The exchange saw inflows of $11 billion, while the next ten largest Iranian exchanges combined had inflows of $7.5 billion.
Notably, Chainalysis said that its onchain analysis revealed that the exchange has ties to malicious actors, including sanctioned entities.
In the aftermath of the Nobitex hack, Iranian authorities have placed restrictions on domestic cryptocurrency exchanges, which are only allowed to conduct operational activities between 10 am and 8 pm.
State-sponsored hacks on the rise
In 2025, state-sponsored hacks have risen sharply, with North Korean state-sponsored hackers being at the forefront of these hacks.
A report on Friday indicated that the North Korean state-sponsored hackers who hacked Bybit for $1.5 billion in February accounted for nearly 70% of the losses from exploits so far this year.
South Korean officials have also revealed that North Korean state-sponsored hacking groups are using AI tools like ChatGPT to steal cryptocurrency.
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