Iran's Nobitex Begins Recovery After Massive $90M Cyber Heist by Hacktivist Group

The attack occurred in mid-June and coincided with a separate cyberstrike on Iran’s state-owned Bank Sepah, indicating a broader campaign targeting Iran's financial infrastructure. Nobitex confirmed the breach impacted its hot wallets, but emphasized that cold storage remained safe. The exchange has pledged to cover affected user balances once full services resume.

Why This Matters

• Geo‑Political Cyberwarfare: The hack marks a shift toward politically motivated cyberattacks targeting crypto platforms as part of broader geopolitical conflict strategies.
• Centralization Risk Spotlight: Funds held in hot wallets are vulnerable—this event serves as a reminder for users to consider self-custody and multi-signature solutions.
• Platform Recovery under Scrutiny: Nobitex’s recovery process will test its transparency and resilience—critical for user trust in post-hack restoration.