Nobitex Resumes Crypto Services After $90M Hack—Access Restricted to Verified Users

Key Takeaways:

• Nobitex was hit by a politically charged hack from group Gonjeshke Darande.
  
• Only identity-verified users are currently able to access spot wallets.
  
• Old deposit addresses are invalid; users must wait for new ones to avoid losing funds.

Following a high-profile $90 million Hack, Iranian crypto exchange Nobitex is cautiously resuming operations. The platform, which temporarily shut down services after the attack earlier this month, has announced the phased reopening of user wallets and trading features. However, only users who have completed full identity verification can regain access.

In a June 24 post on X, Nobitex confirmed that spot wallets are now being unlocked for verified users, with other wallet types to follow. “The identity verification process, which began two days ago, is a prerequisite for wallet access,” the platform stated. The gradual rollout ensures that balance displays and functionalities resume securely.

Hack Linked to Pro-Israel Group Gonjeshke Darande

The cyberattack has been attributed to Gonjeshke Darande, a pro-Israel hacking group that reportedly targeted Nobitex for allegedly aiding the Iranian government in evading sanctions. More than $90 million in crypto assets were stolen and then destroyed by sending them to custom vanity addresses, rendering the tokens unrecoverable.

The attack, reported by CoinGape on June 18, marks one of the largest crypto hacks involving a politically motivated group. Nobitex has been a significant player in Iran’s crypto economy, processing over $11 billion in inflows, but has previously faced scrutiny for potential links to sanctioned entities.

New Wallet System Rolled Out

In response to the breach, Nobitex is rolling out a new wallet infrastructure. The exchange has warned users not to send funds to previously used addresses, as the old wallet system is no longer active. Any deposits to outdated addresses may result in permanent loss of assets.

“Please ensure your old deposit addresses—especially those linked to mining rigs or automated systems—are deleted and replaced,” Nobitex advised. The firm stressed the importance of waiting for the new address issuance before initiating any transactions.

Also Read: Cointelegraph Hacked: Fake Airdrops Promoted in Front-End Exploit

Full Services to Resume in Phases

While withdrawal functions are set to resume on June 30, Nobitex has not provided a concrete timeline for the restoration of trading and deposit services. The exchange emphasized that all services would come back gradually and securely, prioritizing verified accounts.

This approach reflects Nobitex’s efforts to rebuild trust and ensure tighter compliance with global crypto security norms in the aftermath of the breach.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

Sean Williams

I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!