BREAKING: Iran’s Nobitex Exchange in Crisis as Hackers Expose Core Code – Security Meltdown Ahead?
Iran's largest crypto exchange just got its digital guts spilled across the dark web. Hackers ripped open Nobitex's core infrastructure like a piñata—and the fallout could rewrite the playbook on exchange vulnerabilities.
When the Code Bleeds
This isn't some surface-level API scrape. We're talking full repository exposure—the kind that lets attackers reverse-engineure entire trading systems. The breach timeline remains murky, but the damage is crystal clear: every Nobitex user's position just became a potential target.
Security Theater Meets Crypto Reality
Exchanges love touting 'military-grade encryption' until their backdoors get kicked in by script kiddies. Nobitex now joins the hall of shame alongside Mt. Gox and Coincheck—proof that in crypto, your assets are only as secure as the weakest GitHub commit.
While TradFi banks get bailouts, crypto exchanges get ransom notes. Maybe decentralized protocols had the right idea after all.
Hackers Share Nobitex Code in Politically Motivated Hack
Gonjeshke Darande claims it targeted Nobitex due to its alleged ties to the Iranian government and its role in circumventing international sanctions.
In a follow-up post on Wednesday, the group said it had burned $90 million across eight wallets, effectively removing the stolen funds from circulation.
12 hours ago
8 burn addresses burned $90M from the wallets of the regime's favorite sanctions violation tool, Nobitex.
12 hours from now
The source-code of Nobitex will be open to the public, and Nobitex’s walled garden will be without walls. Where do you want your assets to be?…
The breach took place amid heightened geopolitical tensions between Iran and Israel.
The hack occurred on the fifth day of open conflict, which included strategic missile strikes exchanged by both countries.
It also marks the largest cyber-related damage to Iran’s crypto sector since the beginning of its digital finance expansion.
Nobitex, for its part, stated on Thursday that no further losses had occurred and that it was working to restore services within five days.
The company cited internet instability inside Iran as a key challenge to its recovery timeline. CEO Amir Rad is expected to issue a video address to update users on the next steps.
In response to the hack, Iran’s central bank has introduced a curfew on domestic cryptocurrency exchanges, restricting operational hours to 10 a.m. to 8 p.m., according to data referenced by Chainalysis.
Crypto Market Bleeds $200B Amid Iran-Israel Conflict
The escalating conflict between Israel and Iran triggered a sharp dip in crypto market confidence, with sentiment dropping over 30% between June 12–15, according to Santiment.
This coincided with a 4–6% drop in Bitcoin’s price, erasing more than $200 billion in total crypto market value.
The ongoing conflict between Israel & Iran has led to a visible increase in volatility across crypto. Sentiment data showed major bearish sentiment coming in between June 12th to 15th, in particular, coinciding with a 4–6% drop in Bitcoin's price and erasing over $200B from… pic.twitter.com/t1Qe7DlOCf
Despite the initial panic, Bitcoin has since stabilized around the $104K–$105K range. Analysts attribute this resilience to steady ETF inflows and the lack of further military escalation.
A similar pattern was observed during Russia’s invasion of Ukraine, where bitcoin dipped briefly before recovering.
Geopolitical crises continue to influence crypto volatility, with Bitcoin often following a “drop then stabilize” cycle.
As tensions persist in the Middle East, markets may see further short-term price swings, though the long-term trajectory remains uncertain.
