Iran’s Crypto Exchange Loses $82 Million in Hack from Israeli Attackers

Iranian crypto exchange Nobitex suffered an $82 million loss targeting assets across the Tron Network and EVM-compatible blockchains.

Bhushan Akolkar By Bhushan Akolkar Yana Khlebnikova Editor Yana Khlebnikova Updated 2 mins read
Iran’s Crypto Exchange Loses $82 Million in Hack from Israeli Attackers

Key Notes

  • Investigators revealed the use of vanity addresses for the exploit, with one address stealing $49 million initially.
  • Nobitex confirmed the "security incident," claiming that only hot wallet assets were affected and user funds in cold storage remained safe.
  • The pro-Israel hacker group Gonjeshke Darande, or Predatory Sparrow, claimed responsibility for the attack, accusing Nobitex of aiding Iran in evading sanctions.

Nobitex, an Iran-based crypto exchange, lost a massive $82 million in crypto following a recent attack allegedly by Israeli attackers. Blockchain investigator ZachXBT disclosed details of this attack, noting that the attackers drained this massive sum by stealing assets across the Tron Network and other Ethereum Virtual Machine (EVM)-compatible blockchains.

The blockchain investigator also noted that attackers have been leveraging a “vanity address” in order to exploit the protocol, which led to “suspicious outflows” from several wallets linked to Nobitex. A vanity address is a customized public wallet address featuring a specific, user-defined sequence of characters.

Moreover, the attackers stole the initial $49 million by using the vanity address “TKFuckiRGCTerroristsNoBiTEXy2r7mNX”. However, data from Tronscan also shows that the second address involved in the exploit was “0xffFFfFFffFFffFfFffFFfFfFfFFFFfFfFFFFDead.”

Iranian Crypto Exchange Nobitex Assures Funds Are SAFU

Iranian crypto exchange Nobitex acknowledged the “security incident,” stating that losses were confined to “a portion of hot wallet assets,” with user funds reportedly secure in cold storage.

Earlier today, the exchange announced that it had detected unauthorized access to its reporting infrastructure and hot wallet. In a post on X, Nobitex confirmed it had promptly suspended access and reassured users that their assets remained safe. Nobitex noted:

“Immediately upon detection, all access was suspended, and our internal security teams are closely investigating the extent of the incident. We would like to remind you that users’ assets are completely secure, adhering to cold storage standards. The above incident only affected a portion of the assets in hot wallets. However, the platform hasn’t publicly revealed specifics about the stolen assets or the alleged perpetrators.”

Who Is Behind the Hack?

The hacker group Gonjeshke Darande, also known as Predatory Sparrow and allegedly linked to pro-Israel interests, has claimed responsibility for the Nobitex crypto hack.

In a post on their X account, they stated, “We, ‘Gonjeshke Darande,’ conducted cyberattacks against Nobitex.”

Additionally, the hackers also accused Nobitex of assisting the Iranian regime in evading sanctions, while alleging that the Iranian crypto exchange played a critical role in supporting the government’s financial and military activities.

The attackers issued a warning, threatening to release Nobitex’s internal source code and data within 24 hours while cautioning users that any assets still on the platform after the deadline would be at risk.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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