Iran enforces crypto exchange curfew after Nobitex breach
New curfew rules limit Iranian crypto platforms to daytime hours only, as authorities seek greater control amid security threats and capital flight fears.
Iran’s central bank has imposed strict operating hours on domestic crypto exchanges following a massive $100 million hack on Nobitex, the country’s largest digital asset platform. The move comes amid accusations that the incident was politically motivated.
According to blockchain analytics firm Chainalysis, exchanges in Iran are now required to operate between 10 am and 8 pm only. Analysts believe the curfew is aimed at improving monitoring capabilities and limiting capital flight during heightened Iran-Israel hostilities.
Andrew Fierman, head of national security intelligence at Chainalysis, suggested the decision was both a technical response to the hack and a strategic move to maintain tighter control over outflows.
The cyberattack, allegedly orchestrated by pro-Israel group Predatory Sparrow, targeted Nobitex’s internal systems, draining hot wallets of Bitcoin, Ether, Dogecoin, XRP, and Solana.
Cybersecurity experts say the stolen assets were transferred to burner wallets without access keys, effectively destroying them in a rare politically charged crypto burn. Nobitex stated it has isolated its systems and will compensate users using its reserve fund.
Nobitex plays a crucial role in Iran’s crypto economy, having processed over $11 billion in inflows, far outpacing all other domestic exchanges. Chainalysis notes the platform also has ties to sanctioned entities and terrorist-linked groups.
The incident is one in a series of recent cyberattacks on Iranian infrastructure, suggesting a growing digital front in the long-standing Iran-Israel conflict.
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