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Iran has taken a drastic measure to curb the risks associated with cryptocurrency transactions after a massive hack on its largest crypto exchange, Nobitex. The government has imposed a strict curfew on all crypto exchange operations in the country.
As of today, all platforms are only allowed to operate between 10:00 AM and 8:00 PM daily. This decision is seen as an attempt to prevent capital flight and increase oversight of digital asset transactions. The move highlights growing government concerns over crypto-related risks and the need for tighter control in the sector.
The curfew has been imposed in response to a massive hack on Nobitex, which resulted in losses worth $100 million. This incident has sparked widespread concerns about the safety and security of cryptocurrency transactions in Iran.
The decision to impose a curfew on crypto exchange operations is seen as an attempt to protect the interests of Iranian citizens and prevent further loss of wealth. It is also expected to increase transparency in digital asset transactions, which had been growing rapidly in recent times.
It remains to be seen how effective this measure will be in addressing the concerns surrounding cryptocurrency transactions in Iran. However, it is clear that the government is taking a proactive approach to address the risks associated with these transactions.
In any case, the consequences of such measures are yet to be determined and the impact on the overall crypto market in Iran remains uncertain.
Source: coinpedia.org
