Pro-Israel hackers destroy $90 million in Iran crypto exchange breach, analytics firm says

In a shocking incident, Nobitex, Iran's foremost cryptocurrency exchange, fell victim to a cyberattack that resulted in the loss of over $90 million. This breach, reported by blockchain analytics firm Elliptic, involved the siphoning of funds from the exchange's wallets into addresses that carried anti-government slogans, explicitly targeting Iran's Islamic Revolutionary Guard Corps (IRGC). The pro-Israel hacking group, known as Gonjeshke Darande or "Predatory Sparrow," has claimed responsibility for this politically charged attack. They announced plans to release the source code of the exchange, which was offline at the time of the incident. This assault is not an isolated event; the group also took credit for another cyber intrusion this week on Iran's state-owned Bank Sepah. Tensions between Israel and Iran escalated further following missile exchanges between the two nations. In a defiant response, Iran's supreme leader, Ayatollah Ali Khamenei, issued a warning to the U.S., threatening severe consequences. While the stolen assets have yet to be directly tied to the hackers, Elliptic's analysis suggests that the funds were transferred to cryptographic addresses beyond the hackers' control, indicating a possible symbolic act aimed at political protest rather than theft for profit. Elliptic’s investigations have revealed connections between Nobitex and the IRGC, which is classified as a terrorist organization by the United States, United Kingdom, European Union, and Canada. Previous reports have linked the exchange to sanctioned ransomware operators and individuals close to Khamenei. Additionally, blockchain data indicates interactions between Nobitex and wallets associated with groups like Hamas, Palestinian Islamic Jihad, and the Houthis. Elliptic continues to track virtual asset movements related to Iranian entities and has updated its compliance tools to address the evolving threats within the region's cryptocurrency landscape.