Nobitex Slowly Restores Services After $100M Hack

Iran-based crypto exchange Nobitex has slowly started to restore services to its users following a $100 million hack earlier this month reportedly executed by a pro-Israel cyber group.

In an X post yesterday, the exchange said that only users who have verified their identity will have access to the platform and funds. Spot exchange users will be given priority, the exchange added. 

Nobitex Users Urged To Avoid Using Old Wallet Addresses

As the exchange starts to gradually give users access to the platform, Nobitex has urged users to not deposit funds to any of the exchange’s old wallet addresses. 

“Due to the wallet system migration, previous addresses are no longer valid, and any deposits made to them may result in loss of funds,” Nobitex wrote in its post.

Withdrawal, deposit and trading services remain disabled on the platform. Nobitex had previously said that it would enable withdrawals today, but did warn that this timeline was likely to change.

Nobitex Hack Seen As Politically Motivated

A pro-Israel hacker group called Gonjeshke Darande took responsibility for the hack, suggesting the hack was politically motivated given the tensions between Iran and Israel. After breaching the platform, the group then went on to burn $90 million worth of assets. It also released what it claimed to be the exchange’s full source code.

Time’s up – full source code linked below.

ASSETS LEFT IN NOBITEX ARE NOW ENTIRELY OUT IN THE OPEN.
بازمانده دارایی های شما در نوبیتکس هم اکنون در معرض دید و خطر هستند

But before that, lets meet Nobitex from the inside:

Exchange Deployment (1/8) pic.twitter.com/jiMfBpNXwd

— Gonjeshke Darande (@GonjeshkeDarand) June 19, 2025

According to the hacking group, Nobitex was targeted because of its ties to the Iranian government and because it funds malicious actors.

Research by on-chain analytics firm Chainalysis tied Nobitex to a “range of illicit actors,” which include IRGC-affiliated ransomware operators and sanctioned Russian crypto exchanges. 

Nobitex’s chief executive, Amir Rad, said the exchange’s own investigation into the breach showed the hack was supported by Israel’s government. Rad also denied claims that the platform has links to the Iranian government, adding that Nobitex is a private company.

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