In a dramatic and politically charged cyber attack, the supporter Israeli hacker group “Predator Sparrow” has claimed responsibility for a major violation on Iran’s largest cryptocurrency exchange, Nobitax.
In a dramatic and politically charged cyber attack, the supporter Israeli hacker group “Predator Sparrow” has claimed responsibility for a major violation on Iran’s largest cryptocurrency exchange, Nobitax. Hackers allegedly accessed and burnt at a price of about $ 90 million () 750 crores of cryptocurrency (750 crores) from the platform, not for financial gains, but as a symbolic function of disregard against the Iranian rule.
Violations in the early hours of June 18 sent Shockwaves through Iran’s crypto and financial ecosystem. Iran’s digital currency market is a prominent place, Nobatex confirmed unauthorized access and temporarily took off the services to include damage.
Unlike traditional hacks aimed at theft and profit, this cyberattack had a distinctly political tone. The hackers didn’t attempt to launder or hide the stolen funds—instead, they burned the cryptocurrency, making it unrecoverable. Burning crypto involves sending coins to an address from which they can never be accessed again, effectively destroying the digital assets.
The group posted a statement on X (formerly Twitter), accusing Nobitex of being a “primary tool” for the Iranian regime to evade international sanctions and allegedly fund terrorist operations overseas. This accusation aligns with the broader narrative of Iran using decentralized finance and crypto to bypass Western financial restrictions.
The hack came just one day after Predatory Sparrow claimed credit for crippling Iran’s state-owned Bank Sepah, further reinforcing suspicions of a coordinated digital offensive.
Predatory Sparrow is a relatively mysterious but increasingly active hacker collective that identifies as pro-Israel. The group has been linked to several high-profile cyber operations against Iranian infrastructure in the past, including industrial sabotage, power outages, and data leaks.
While their exact affiliation remains unclear, many cybersecurity analysts believe the group operates with sophisticated tools and potentially state-level backing, given the precision and impact of their attacks.
In the aftermath of the attack, Nobitex confirmed a breach and stated it had taken emergency measures to secure its platform. The exchange released a short statement acknowledging unauthorized access to specific wallets and said an internal investigation is ongoing.
While Nobitex did not confirm the total value of assets affected, third-party blockchain analytics seem to support the hackers’ claim of around $90 million in burned crypto. Several Ethereum and Bitcoin transactions traceable to Nobitex’s wallets were found to be irreversibly destroyed, supporting the burn narrative.
This incident marks a turning point for Iran’s crypto infrastructure. Nobitex has long operated in a regulatory gray area, offering Iranian users access to global digital currencies while circumventing international sanctions. The breach exposes critical vulnerabilities in the platform’s security architecture and raises questions about Iran’s reliance on crypto to stabilize its economy amid sanctions.
The attack could also lead to further international scrutiny, with potential repercussions for exchanges, wallets, and DeFi platforms that indirectly support sanctioned entities.
Cybersecurity experts worldwide have raised concerns over the rising trend of politically motivated cyberattacks in the crypto space. While ransomware attacks and digital thefts are common, the deliberate destruction of wealth for ideological purposes adds a new layer of complexity to cyber warfare.
Governments and regulators may need to step up oversight on how crypto platforms are used in sanctioned nations and enhance cooperation on cyber threat intelligence.
The Predatory Sparrow attack on Nobitex is not just a story of a security breach—it’s a symbolic strike against a geopolitical rival, using the tools of the digital age. As cyber warfare evolves, incidents like this demonstrate how cryptocurrency can become both a weapon and a battlefield in global conflicts.
Predatory Sparrow is a pro-Israel hacker group known for conducting cyberattacks against Iranian infrastructure. The group is believed to be highly skilled and possibly backed by a nation-state.
The hackers didn’t steal the funds for profit. Instead, they burned the cryptocurrency, sending it to inaccessible wallets, effectively destroying nearly $90 million worth of digital assets.
Predatory Sparrow accused Nobitex of facilitating sanction evasion for the Iranian regime and aiding in the funding of terrorism, making it a political target rather than a financial one.
Nobitex confirmed unauthorized access to its wallets and took its services offline to mitigate damage. An internal investigation is currently underway.
The attack highlights the geopolitical risks in the crypto ecosystem and the vulnerability of exchanges operating in sanctioned or politically volatile regions. It also underscores the potential for cryptocurrency to become a tool in international cyber warfare.
