A major cybersecurity attack on Iran’s leading cryptocurrency exchange, Nobitex, has triggered a significant decline in crypto flows within the country. The hack, attributed to the pro-Israel group Predatory Sparrow, resulted in an 11% drop in transaction volume. This event is raising concerns about user trust and stability within Iran’s digital finance ecosystem. |
Nobitex’s infrastructure suffered significant damage in June 2025, leading to the destruction of approximately $90 million in cryptocurrency assets. The attack has exacerbated existing geopolitical tensions, impacting financial institutions operating within the Iranian crypto sector.
These events highlight the vulnerability of Iran’s digital finance system and raise questions about future regulatory measures.