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 Monday, while trading and deposits remain suspended.

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 “Due to the migration of the wallet system, previous addresses are no longer valid,” the company said in a statement.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 pro-Israeli hacker group “The Predatory Sparrow.” The group claimed responsibility for the breach, stating it targeted Nobitex over its alleged ties to the Iranian government. It also claimed to have destroyed $90 million of the stolen funds and released the platform’s full source code.

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.

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. Novitec said it plans to gradually resume trading and deposit functions but did not provide a specific timeline.

Expect ongoing updates as this story evolves.

This article was written by Jared Kirui at www.financemagnates.com.CryptoCurrencyRead More

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