Iran’s central bank has set strict rules for local cryptocurrency exchanges, allowing them to operate only from 10 a.m. to 8 p.m. This comes after a major cyberattack on Iran’s biggest crypto platform, Nobitex, yesterday. The hackers have stolen $100 million worth of cryptocurrencies like Bitcoin, Ether, etc. The attack was carried out by a pro-Israel group called Gonjeshke Darande.
The hackers sent the stolen crypto to special addresses where it cannot be accessible. Experts from Chainalysis, a company that tracks blockchain activity, say the attack was not for profit but to hurt Iran’s financial system due to the current crisis of the Iran-Israel war.
As per the reports, this new time limit initiative is meant to help the country’s government so that it can watch for more attacks during the day and avoid problems at night. They also want to control how people in Iran use crypto to send money abroad, especially since there is tension with other countries and worries about money leaving Iran.
Nobitex is a key platform for Iranians to trade crypto because it’s hard for them to use regular banks due to international sanctions on the country. The exchange handles over $11 billion in transactions, far more than other Iranian exchanges. But the platform is also linked to some controversial groups, like Yemen’s Houthi rebels and Russian platforms, which have raised concerns.
After the hack of Nobitex, Iran’s biggest cryptocurrency platform, the exchange shut down access to its servers from outside to stop further damage. The exchange has posted on its X post, stating that everything is now “under control” and has promised to use its backup fund to pay back its users whose money was stolen in this hack.
Their tech team is also moving the remaining online crypto to safer offline storage to prevent more hacks. Right now, its users cannot access the platform, and internet problems in Iran might delay getting it back online.
This hack happened soon after Israel attacked Iran with airstrikes, which has made things very tense between the two countries. Iran’s central bank is now putting tight rules on crypto exchanges to protect the country’s digital money system, especially as they deal with these attacks and tricky international relations.
Also Read: Pro-Israel Hackers Burn $90 Million Stolen From Iran Exchange
