Iran Imposes Crypto Exchange Curfew After $100M Nobitex Hack

Iran’s central bank has imposed strict operating hours on domestic cryptocurrency exchanges following a devastating $100 million exploit on Nobitex, the country’s largest digital asset platform. The attack, reportedly carried out by a pro-Israel hacker group, has prompted a swift government response aimed at reducing the risk of further cyber intrusions. According to blockchain analytics firm Chainalysis, the new curfew limits exchanges to functioning only between 10 a.m. and 8 p.m. local time. Andrew Fierman, head of national security intelligence at Chainalysis, recently stated that the move likely aims to contain the potential damage of future incidents. “Incidents are easier to triage if they’re not happening in the middle of the night,” he noted. The Nobitex hack occurred early Wednesday morning , during off-peak hours. Chainalysis also suggested that the Iranian government may be using the curfew to tighten control over citizen transactions, especially in a time of high geopolitical tension and the risk of capital flight. This is not the first time Iran has restricted crypto activity—last December, authorities shut down all exchanges temporarily to stabilize the rial. Pro-Israel Hackers Burned the Stolen Crypto The hacking group Gonjeshke Darande claimed responsibility for infiltrating Nobitex’s systems and draining its hot wallets of major cryptocurrencies including Bitcoin, Ethereum, Dogecoin, XRP, and Solana. Chainalysis reported that the stolen funds were sent to burner wallets—addresses with no private key access—effectively removing the assets from circulation. “This attack stands out not just for its size but for its motive,” Fierman said. “Unlike typical hacks motivated by profit, this one appears politically driven, intended to deprive the Iranian regime of access to funds.” Nobitex, which facilitates more than $11 billion in inflows—far surpassing any other Iranian exchange—has acknowledged the breach. In a statement on X, the platform said it has severed all external access to its servers and moved remaining funds from hot wallets to secure cold storage. Nobitex Struggles to Restore Access Although Nobitex claims the situation is under control, user access remains suspended. The exchange confirmed that its Reserve Fund will cover all losses incurred in the breach. However, it warned that ongoing internet disruptions and additional security protocols may delay the restoration of full services. As a key player in Iran’s crypto space, Nobitex’s compromise could have ripple effects throughout the region. Chainalysis highlighted its role in facilitating global crypto access for Iranian users—many of whom are otherwise cut off from international financial systems. The post Iran Imposes Crypto Exchange Curfew After $100M Nobitex Hack appeared first on TheCoinrise.com .

Source: The Coin Rise