Iranian crypto exchange Nobitex has started reopening operations, two weeks after suffering a major cyberattack that led to the loss of nearly $100 million. The exchange confirmed the partial restoration of operations on Sunday, while trading and deposits remain suspended.

Previous Addresses "No Longer Valid"

Nobitex advised users not to send funds to old wallet addresses, warning that deposits to previously used addresses may result in permanent loss. “Due to the migration of the wallet system, previous addresses are no longer valid,” the company said in a statement.

The reopening followed a June 18 cyberattack by a pro-Israeli hacker group. The group called Gonjeshke Darande, or “Predatory Sparrow,” claimed the hack on social media platform X. They warned they would release Nobitex’s source code and internal files within 24 hours. The hackers used wallet addresses with anti-Iranian messages to move the stolen funds across several blockchains.

Read more: Iranian Crypto Exchange Nobitex Loses $82M in Cyberattack as Israel–Iran Tensions Escalate

The incident marked one of the most severe cyberattacks against Iran’s financial sector. Blockchain analytics firm Chainalysis later reported that Nobitex had processed $11 billion in crypto inflows, suggesting its central role in Iran’s digital asset infrastructure.

Following Geopolitical Conflicts

The cyberattacks occurred amid military tensions between Israel and Iran, where Israel carried out several strikes on Iranian targets earlier. A ceasefire between the two countries later calmed the tension in the Middle East.

In response to the breach, Iranian authorities imposed operating hour limits on domestic crypto exchanges, restricting services to between 10:00 AM and 8:00 PM. Nobitex said it plans to gradually resume trading and deposit functions but did not provide a specific timeline.

However, despite the theft, security firm Cyvers earlier reported that the stolen assets had not yet been moved or converted into other cryptocurrencies.

Source: Finance Magnates