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In a shocking development shaking the global crypto market, Nobitex—Iran’s largest cryptocurrency exchange—was hacked on Thursday, June 19, 2025. Over $100 million in digital assets have reportedly been stolen, making it one of the most significant exchange breaches of the year.
According to early reports from cybersecurity firm PeckShield and Iranian tech media, attackers exploited a vulnerability in the platform’s hot wallet infrastructure, siphoning off major tokens including BTC, ETH, and USDT. Blockchain analysis reveals the funds were quickly moved through Tornado Cash mixers, complicating efforts to trace and recover them.
Internet Disruptions and National Impact
Shortly after the breach, Iranian authorities allegedly initiated internet blackouts in several provinces. While official sources claim the disruption was unrelated, local tech communities believe it was a containment measure to prevent widespread panic and asset flight.
The hack has also sparked renewed concerns about crypto regulation, custodial risks, and infrastructure resilience in emerging markets. Nobitex had been a critical gateway for Iranian crypto users, especially due to sanctions limiting international financial access.
Security Lapses and Global Repercussions
This breach underscores ongoing vulnerabilities in crypto infrastructure, particularly for exchanges operating in jurisdictions with limited regulatory oversight. Industry experts point to:
- Outdated wallet management systems
- Lack of real-time monitoring
- Underfunded security teams
The event also raises geopolitical questions. Some observers suggest the hack may have had state-sponsored support due to its scale and sophistication.
What Users Can Do Now
For Nobitex users, funds in cold storage are reportedly safe. However, withdrawals have been frozen pending internal investigations. Users are advised to:
- Monitor updates via official Nobitex channels
- Avoid phishing emails or scam claims of recovery
- Diversify holdings using hardware wallets or decentralized platforms
Also read : Bitcoin Holds Steady Near $104K as Fed Signals Hawkish Stance
Conclusion
The Nobitex hack is a stark reminder that even top regional platforms are not immune to cyber threats. As the crypto world grows, so do its risks. Are centralized exchanges still the safest option—or is it time to go fully decentralized?
Let us know what you think in the comments: Is your crypto safe today?
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