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Iran’s crypto landscape is now under intense scrutiny as the country’s largest cryptocurrency exchange, Nobitex, has been targeted in a massive hack. The breach, which was executed early on June 18th, has resulted in the theft of over $48 million worth of USDT (Tether) from Nobitex’s hot wallets.
According to reports, an Israeli-linked group known as Predatory Sparrow has claimed responsibility for the heist. This is not the first time that this group has been involved in a significant cyberattack. In 2022, they successfully disabled approximately 70% of Iran’s gas stations and also targeted Bank Sepah, which is closely tied to Iran’s military.
In their public statement regarding the hack, Predatory Sparrow took aim at Nobitex, accusing the exchange of enabling the Iranian regime to bypass international sanctions and fund terrorist activities. They even went as far as saying that working for Nobitex is akin to serving in the military, implying that it holds significant political importance.
Nobitex has confirmed the breach and issued a statement assuring users that most assets are safely stored in cold wallets. The exchange has also promised to compensate any losses from the hack through their insurance fund and internal resources.
The attack on Nobitex serves as a stark reminder of the growing trend of politically motivated cyberattacks. With tensions between nations increasing, cryptocurrency exchanges have become soft targets in the political game. This raises questions about the security measures that need to be taken by these exchanges to protect users’ assets and maintain trust within the community.
It is imperative for these platforms to rethink their approach to security, taking into account the increasingly geopolitical nature of cyberattacks.
Source: coinpedia.org
