- Nobitex enforces strict identity verification for wallet access restoration.
- Hackers exposed source code, intensifying geopolitical and cybersecurity tensions.
- Wallets migrated; deposits to old addresses now invalidated permanently.
Following a severe $90 million cyberattack earlier this month, Iranian cryptocurrency exchange Nobitex has begun restoring its operations. The company, which leads the Iranian digital currency market, announced a phased recovery plan and has resumed limited access for users. Only verified customers are currently allowed to access their accounts.
Nobitex Restores Operations Amid Security Upgrades
The exchange stated on X that it is gradually enabling wallet access and aims to restore withdrawals, deposits, and trading soon. For now, only spot wallets are accessible, while others remain locked pending user verification.
Nobitex stressed that the recovery timeline could shift depending on ongoing security measures and investigations.
Identity Verification Key to Platform Access
Nobitex introduced stricter security protocols.Access to wallet is limited to those users who have undergone complete identity verification. The trade highlighted that it is an important step towards safeguarding user money and denying additional exploitation.
The unverified users will not be in a position to access their crypto holdings until they acquire the new requirements.
Nobitex revealed it had migrated all customer wallets as a precaution, rendering deposits to old addresses invalid. This move was intended to prevent additional losses or unauthorized access. The company urged users to refrain from sending funds to outdated wallet addresses.
The breach, attributed to pro-Israel hacker group Gonjeshke Darande, led to the destruction of stolen assets and the public release of portions of Nobitex’s source code.
Follow- up on Nobitex Security Incident, Step-by-step wallet access has begun, 29 June 2025
Please note:
1. This process is being carried out gradually, starting with verified users and initially for spot wallets, followed by other types of wallets.
2. The identity…
— Nobitex | نوبیتکس (@nobitexmarket) June 29, 2025
The group took the responsibility of the attack, thereby intensifying tensions in the region. Cybersecurity company TRM Labs theorized that hacked data was used to help Israeli officials determine who to investigate and intercept Iranian hackers funded via crypto.
Nobitex Distances Itself from State Allegiances
Amid speculation regarding the exchange’s affiliations, Nobitex’s CEO Amir Rad stated the platform has no ties to Iran’s military or government. He asserted that Nobitex is a private entity, operating independently from state agencies.
This was made clearer when Chainalysis attributed Nobitex to a number of sanctioned addresses, such as ransomware operators and Russian exchanges.
Despite its recent challenges, Nobitex continues to dominate Iran’s crypto space. The platform boasts $11 billion in total inflows, far surpassing the next ten domestic exchanges combined. The incident has drawn attention to the broader use of crypto in regions facing international sanctions.
The recovery of Nobitex is still taking place, and it is recommended that users should reverify their accounts so as to access full facilities. The platform promised the customers that its main target is to regain service with security in place.
