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Gonjeshke Darande Breaches Nobitex and Burns $90 Million in Crypto

Nobitex has suspended platform access for a security audit with its insurance fund ready to cover any losses

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Representations of cryptocurrency Binance are seen in front of displayed Nobitex logo and Iran flag in this illustration taken November 3, 2022. REUTERS/Dado Ruvic/Illustration

Overview

  • Gonjeshke Darande claimed responsibility for the June 18 breach of Nobitex’s hot wallets, seizing more than $90 million in cryptocurrencies.
  • Blockchain analysts at Elliptic report the hackers sent the stolen funds to cryptographic addresses they likely cannot control, effectively burning the assets as a political statement.
  • Nobitex suspended access for a security audit, confirmed most user funds were protected in cold storage and pledged to cover any losses from its insurance fund and reserves.
  • The hackers warned they would release Nobitex’s source code and internal data within 24 hours, threatening any assets left on the platform.
  • The attack followed a similar assault on state-owned Bank Sepah and reflects escalating digital hostilities tied to ongoing missile exchanges between Israel and Iran.