Iran has shut down internet services across the country.
International media have reported that Iran has experienced an internet blackout for the past 12 hours following a cyberattack that resulted in the theft of digital assets worth millions of dollars.
According to the American newspaper The New York Times, Iran’s largest cryptocurrency exchange, Nobitex, was targeted in a cyberattack on Wednesday.
A pro-Israeli hacker group has reportedly stolen over $90 million worth of digital assets in a cyberattack on Nobitex, Iran’s largest cryptocurrency exchange.
The group, known as Predatory Sparrow, has claimed responsibility for the attack, stating that their target was the Islamic Revolutionary Guard Corps (IRGC). While it is suspected that the group is being operated by Israeli intelligence, The New York Times noted that this has not been independently verified.
According to blockchain analytics firm Elliptic, the hackers drained more than $90 million worth of cryptocurrencies — including Bitcoin, Ethereum, and Dogecoin — from Nobitex’s hot wallets. They then transferred the assets to so-called “vanity wallets” and destroyed them.
Following the attack, Nobitex shut down all servers and stated that the situation is now under control. The exchange claimed that most of its assets were stored in secure cold wallets and assured users that they would be compensated, as reported by The New York Times.
Predatory Sparrow has accused the Iranian regime of using Nobitex to evade international sanctions and fund terrorism, and has threatened to release the exchange’s source code and internal data within 24 hours. International media have reported that such a move could further endanger the remaining assets.
Crypto analytics firm Chainalysis described the attack as the first of its kind carried out at this scale with explicit geopolitical intent.
This marks Predatory Sparrow‘s second major operation. On Tuesday, the group claimed responsibility for a cyberattack on Iran’s state-owned Bank Sepah, which caused widespread disruptions to ATMs across the country.
There was also a major disruption in internet access across Iran on Wednesday, which further complicated the situation for Nobitex.
Iranian government spokesperson Fatemeh Mohajerani stated that the internet blackout was a temporary measure taken to prevent further cyberattacks.
