Key Notes
- The group claimed the attack targeted Nobitex due to its alleged use by Iranian government officials and violations of international sanctions.
- Hackers stated they burned $90 million worth of stolen funds across major cryptocurrencies like Bitcoin, Ethereum, Tron, and Solana.
- In response to the hack, the Central Bank of Iran restricted crypto exchange operating hours to 10 a.m.to 8 p.m.
The purported Israeli hacker Group Gonjeshke Darande, behind the $100 million hack of Iran’s exchange Nobitex, has released the complete source code of the platform. It left the rest of the users at the mercy of hackers. While claiming responsibility for the hack, the Group has stood on its previous warning of leaking the code and other internal files on the exchange.
In an X post on June 19, the Israeli hacker group noted: “Time’s up – full source code linked below. Assets left in Nobitex are now entirely out in the open.”
The X thread outlined critical security features of the exchange. This involved blockchain cold scripts, privacy configurations, server list, along with a downloadable zip file containing the complete source code for the Nobitex platform.
The Israeli hacker group said that it attacked the exchange since Iranian government officials used Nobitex. Besides, it also alleged that the exchange participated in funding activities that violate Iran’s international sanctions.
Nobitex Says No Additional Financial Losses, Hackers Show Proof
Nobitex announced on June 19 that no further financial losses had been reported and that services are expected to be restored within five days. However, the exchange acknowledged that progress is being hindered by internet disruptions linked to the ongoing crisis in Iran.
Meanwhile, the hackers claimed that most of the stolen funds had been burned or permanently removed from circulation from the hot wallet. However, the hacker group claimed that “8 burn addresses burned $90M from the wallets of the regime’s favorite sanctions violation tool, Nobitex.” This includes the burning of some of the top digital assets such as Bitcoin (BTC), Ethereum (ETH), Tron (TRX), Solana (SOL), and others.
12 hours ago
8 burn addresses burned $90M from the wallets of the regime’s favorite sanctions violation tool, Nobitex.12 hours from now
The source-code of Nobitex will be open to the public, and Nobitex’s walled garden will be without walls. Where do you want your assets to be?…— Gonjeshke Darande (@GonjeshkeDarand) June 18, 2025
Iranian Central Bank Limits Crypto Trading
Following the hack, the Central Bank of Iran has reportedly enforced a curfew on domestic cryptocurrency exchanges, restricting their operating hours to 10 a.m. to 8 p.m., as noted in multiple reports referenced by Chainalysis.
Andrew Fierman, Chainalysis’s head of national security intelligence, told Cointelegraph that the curfew is likely aimed at mitigating further attacks, stating, “Incidents are easier to manage when they’re not occurring in the middle of the night. He said:
“Secondly, while the people of Iran leverage cryptocurrency exchanges to facilitate cross-border transactions, the Iranian regime may want to assert more control over their citizens’ transactions. This is especially the case during times when geopolitical tensions are high and capital flight from Iran is possible.”
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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.
