The funds were essentially burned permanently, making them inaccessible unless the stablecoin firms reissue centralised stablecoins, crypto researcher ZachXBT shared on X.
Pro-Israeli hacker group Gonjeshke Darande, also known as Predatory Sparrow, on Wednesday claimed responsibility for a $90 million exploit of Iran’s largest crypto exchange platform, Nobitex.
The hacker used politically charged usernames on the Tron network and EVM-compatible chains, stealing more than $85 million worth of digital assets, including $49.3 million on Tron, $24.3 million on EVM-compatible chains, $2 million in Bitcoin, and $6.7 million in Dogecoin, blockchain security firm Cyvers shared on X.
According to crypto researcher ZackXBT, the funds were essentially burned permanently, making them inaccessible unless the stablecoin firms reissue centralised stablecoins.
Posting on X, the hacker group warned of further attacks, describing Nobitex crypto exchange as a tool for the Iranian regime.
“In 24 hours, we will release Nobitex’s source code and internal information from their internal network. Any assets that remain there after that point will be at risk! The Nobitex exchange is at the heart of the regime’s efforts to finance terror worldwide, as well as being the regime’s favourite sanctions violation tool, the group wrote.
Confirming the breach in an official statement shared on the X platform, Nobitex assured users of the safety of their funds, adding that a majority of the funds are stored in cold wallets.
“The breach was limited to a portion of our hot wallet, which is used for day-to-day liquidity,” the crypto exchange said. “All potential user losses will be fully covered through our insurance fund and internal reserves.”
