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Iran’s Nobitex Exchange Recovers Services, a Week After $100 Million Hack
In a shocking turn of events, Nobitex, the largest cryptocurrency exchange in Iran, has finally announced its decision to restore operations. This move comes after a devastating hack that saw the platform lose an unprecedented $100 million.
According to reports, the hack was orchestrated by the pro-Israel hacker group Gonjeshke Darande, who destroyed $90 million worth of assets and leaked the exchange’s full source code. The group reportedly targeted Nobitex due to its alleged ties to the Iranian government and funding of malicious activities.
Despite the setback, Nobitex has assured users that wallet access will be restricted to verified individuals only, with a priority given to spot exchange users. Additionally, the exchange warned users against depositing cryptocurrency into old wallets, as any deposits made to these addresses could result in the loss of funds due to system migration.
The exchange initially announced it would take some time to recover from the hack and has now begun the process of restoring its services gradually. This move is seen as a major relief for Nobitex users who have been left high and dry since the attack occurred.
In related news, a report by Chainalysis highlights Nobitex’s crucial role in Iran’s crypto ecosystem. According to the data analytics platform, Nobitex accounted for $11 billion in inflows, significantly surpassing the combined inflows of other major Iranian exchanges.
The exchange, which has been struggling to recover from the hack, will resume its activities gradually, starting with withdrawals on June 30 and then moving on to deposit and trading functionalities.
Source: www.coinspeaker.com
