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Iran has taken a drastic measure in response to the recent massive hack targeting Nobitex, its largest cryptocurrency exchange. In the wake of the $100 million theft, the government has imposed a strict curfew on all crypto exchange operations.
As of now, platforms are only allowed to operate between 10 a.m. and 8 p.m. daily. This move is intended to prevent capital flight and increase oversight of digital asset transactions. The decision reflects the growing concerns over crypto-related risks and the need for tighter control in the sector.
The implications of this curfew on the Iranian cryptocurrency market are yet to be fully understood. It may lead to a temporary disruption in trading activities, potentially causing short-term losses for investors. However, it is essential to acknowledge that this measure might contribute to enhancing overall security within the space.
Iran’s authorities have been increasingly vocal about their concerns regarding cryptocurrencies, and this curfew serves as a tangible manifestation of those sentiments. It remains to be seen how this development will impact the cryptocurrency landscape in Iran and beyond.
Stay tuned for further updates on this developing story.
Source: coinpedia.org
