The Central Bank of Iran has introduced new restrictions on the operation of cryptocurrency exchanges following a powerful hacker attack on the Nobitex platform, resulting in the loss of over $90 million in digital assets.
This is reported by Finway
Curfew for Crypto Exchanges in Response to Cyberattack
From now on, cryptocurrency platforms in Iran will be allowed to conduct trading operations only between 10:00 AM and 8:00 PM. This measure is a direct response to the recent attack on the leading exchange Nobitex, during which hackers managed to withdraw large sums of cryptocurrency. According to analysts, a pro-Western group called Gonjeshke Darande (Predatory Sparrow) has claimed responsibility for this incident, positioning their actions as a political message.
The hackers stated that they gained full access to Nobitex’s infrastructure. They also promised to release the platform’s source code and internal documentation. In their messages on the platform X (formerly Twitter), the group also mentioned a previous attack on the state-owned Bank Sepah.
According to estimates from Elliptic experts, the withdrawn funds were “burned”: they were sent to wallets that are inaccessible due to the lack of private keys, rendering these assets permanently lost. Some of the addresses to which the funds were transferred contained offensive messages directed at the Islamic Revolutionary Guard Corps, further emphasizing the political motivation behind the attack.
“These actions were not commercially motivated but were part of a cyberwar,” analysts from Chainalysis reported.
The attack fits into the overall trend of increasing tension between Israel and Iran, experts believe. Cyberwarfare in this context is intensifying, and digital assets are increasingly being used as a tool of pressure.
Cryptocurrencies in Iran’s Shadow Economy and Risks to the Financial System
According to Chainalysis, cryptocurrencies play a significant role in the shadow sector of Iran’s economy, particularly for circumventing international sanctions. Platforms like Nobitex have become key components of this financial infrastructure. However, dependence on digital assets makes the country very vulnerable to cybercrimes and attacks.
Despite the imposition of restrictions on nighttime trading, experts doubt that such measures will fully protect Iran from similar threats in the future. At the same time, these steps indicate growing concerns among authorities about the security of the digital economy—especially in the context of external isolation.
It was previously reported that certain officials from the Islamic Revolutionary Guard Corps were involved in cryptocurrency fraud amounting to over $21 million, highlighting the scale of shadow financial operations in the country.