Nobitex Crypto Exchange Resumes Operations After $90 Million Hack

After suffering a shocking $90 million hack, Nobitex, Iran’s largest crypto exchange, has officially resumed operations—though access is currently restricted to verified users only.

In its latest update on platform X, Nobitex announced a gradual recovery process following the cyberattack allegedly carried out by pro-Israel hacker group Gonjeshke Darande. Initially, only spot wallets of users who have completed identity verification will be unlocked. Other wallet types will be restored gradually once the system confirms the accuracy and security of user data.

“We are working to resume withdrawal, deposit, and trading services as soon as possible for verified users,” the platform stated.

Earlier on June 18, Nobitex had been hacked, resulting in a loss of over $90 million in crypto assets. The hackers claimed they were targeting Nobitex for allegedly helping the Iranian government evade international sanctions. Most of the stolen tokens were reportedly “burned” by transferring them to custom-generated, unrecoverable wallet addresses.

On June 24, Nobitex confirmed that withdrawal services will resume on June 30, with deposit and trading functions to follow gradually. However, no specific timeline has been provided for the full restoration.

As part of its recovery efforts, Nobitex is also launching a new wallet system. The platform has warned users against depositing crypto into old wallet addresses, as they are no longer valid and could result in permanent loss of funds.

“If your old deposit address is connected to a mining rig or set as a default withdrawal address in any blockchain service, be sure to delete it and wait for a new address issued by Nobitex,” the company advised.

With over $11 billion in total transaction volume, Nobitex remains the dominant crypto exchange in Iran. However, blockchain analytics firm Chainalysis has previously linked it to illicit activities, including alleged connections to ransomware groups affiliated with Iran’s Islamic Revolutionary Guard Corps.