On June 18th, a self-proclaimed pro-Israel hacker collective known as “Predatory Sparrow” executed a significant cyberattack against Nobitex, Iran’s largest cryptocurrency exchange. The hackers eliminated over $90 million worth of cryptocurrency from the exchange. The attackers didn’t seek financial gain; instead, they rendered the funds permanently inaccessible, sending a clear political message. This action followed a previous claim of responsibility for disrupting Iran’s state-owned Bank Sepah. The group asserted that Nobitex was a key platform used by the Iranian regime to bypass sanctions and fund operations. Nobitex reported that it had detected unauthorized access and suspended operations, with its website and app remaining offline. The hackers have threatened to release the exchange’s source code and internal documents if any funds are recovered. Predatory Sparrow has a history of targeting Iranian infrastructure, including gas stations and a steel mill, with claims of targeting the ruling elite and the Revolutionary Guard Corps (IRGC). Cybersecurity analysts believe that such attacks are often coordinated during periods of geopolitical tension.
