Hackers reportedly drained more than $90 million from Nobitex, Iran’s largest cryptocurrency exchange, in an attack that analysts say may have links to Israel.
The report, based on blockchain analytics and published June 19, 2025, says the attack targeted the Tehran-based platform and moved significant funds off the exchange. While investigators pointed to possible Israeli connections, the attribution remains reported as tentative in the coverage.
The hack comes amid an intense spike in hostilities between Israel and Iran. According to the same report, the violence escalated after Israel struck Iranian nuclear sites and military officials, and Tehran answered with barrages of missiles. The timing of the cyberincident has led observers to link the theft to the larger conflict.
Beyond the headline figure, the episode highlights how geopolitical conflicts are increasingly spilling into cyberspace and onto blockchain networks, where traces of stolen funds can be tracked even as attribution remains difficult. Authorities and market participants will likely be watching closely for the fallout and any further cyber moves tied to the confrontation.
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