$100M Nobitex Hack Triggers Trading Hour Limits in Iran

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$100 Million Nobitex Hack Triggers Trading Hour Limits in Iran

Written by Aaron S.,

Editor-In-Chief

Last Updated: June 19, 2025

Key Takeaways

Iran's central bank has restricted crypto exchange hours from 10 AM to 8 PM after Nobitex's $100 million hack;
Pro-Israel hackers drained Nobitex's hot wallets, and the stolen funds were sent to unrecoverable wallets;
Nobitex stated that it plans to repay users using its Reserve Fund, but access remains offline for now.

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$100 Million Nobitex Hack Triggers Trading Hour Limits in Iran

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After a security incident at Nobitex, Iran’s cryptocurrency exchange, the country’s central bank has set new time limits for all local exchanges.

These platforms can only operate between 10 AM and 8 PM, as stated in Chainalysis' blog post on June 18.

Nobitex reported that about $100 million worth of various digital assets, including Bitcoin BTC $104,294.45 , Ethereum ETH $2,505.59 , XRP XRP $2.17 , Solana SOL $145.07 , and Dogecoin DOGE $0.1698 , had been stolen.

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A hacker group called "Gonjeshke Darande", which supports Israel, said it was behind the attack. The group claimed it gained access to Nobitex’s internal systems and drained its hot wallets.

Chainalysis investigated the case and stated that the stolen funds were transferred into wallets that appear to be temporary and do not have private keys.

In response to the hack, Nobitex shut off all external connections to its systems. The team stated that they had brought the situation under control.

However, users are still unable to log in to the platform. The exchange said it plans to use its Reserve Fund to cover all lost funds. It also warned that internet issues and blocked external servers may slow down the process of reopening the platform to users.

Chainalysis also shared that Nobitex has received more than $11 billion in total crypto deposits, far more than any other exchange in Iran. For comparison, the next ten largest platforms combined have seen under $7.5 billion.

On June 12, Chainalysis reported that the black-market trading network linked to Huione Group is still active, despite claims it had shut down. How? Read the full story.