A shadowy hacking group linked to Israel has claimed responsibility for a major cyberattack on Nobitex, Iran’s largest cryptocurrency exchange, draining and effectively destroying more than $90 million in user assets. The breach follows an attack earlier this week on state-owned Bank Sepah, intensifying a digital conflict tied to the ongoing Israel–Iran tension.
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Crypto Sabotage: Draining Nobitex Hot Wallet
According to blockchain analysis platform Elliptic, the hack involved extracting roughly $90 million from Nobitex’s “hot wallet” and sending funds to irretrievable or “burn” addresses after emptying the exchange’s online systems. Funds were routed to vanity addresses with anti-IRGC (“F*ckIRGCterrorists”) signatures suggesting the motive was political sabotage, not financial gain .
Nobitex’s website remains offline as it investigates the incident. Predatory Sparrow even threatened to release the platform’s source code and infrastructure details warning that assets left in the exchange could soon vanish.
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Digital Warfare Expands to Banking System
Earlier in the week, the same group claimed to have successfully breached Bank Sepah, disrupting online services and erasing critical data. Customers reportedly lost access to ATMs and online accounts even as Tehran authorities downplayed the impact .
Predatory Sparrow has a history of targeting Iranian infrastructure. Past operations include disabling up to 70% of Iran’s courier fuel stations, sabotaging steel mills, and damaging railway systems often with messages linking their missions to Iranian military ties.
The escalating cyber campaign runs parallel to regional military skirmishes, prompting security experts to warn of spillover risks to global entities. U.S. and European cybersecurity teams are reportedly increasing vigilance, as politically motivated cyberattacks evolve into full-blown digital warfare—threatening financial systems, infrastructure, and geopolitical stability.
About the Author – Anirudh Mittal is a B.Sc. LL.B. (Hons.) student at National Forensic Sciences University, Gandhinagar, with a keen interest in corporate law and tech-driven legal change.