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$90M Vanishes in Cyberattack on Iran’s Top Crypto Exchange
- Iran’s leading crypto exchange, Nobitex, faced a $90 million cyber heist by Predatory Sparrow, a group associated with pro-Israel entities.
- Instead of profiting, the hackers transferred the funds to inaccessible wallets, symbolically destroying the money.
- The attack, seen as a political statement, targeted Nobitex, allegedly used by Iran to bypass sanctions using cryptocurrencies.
- Predatory Sparrow's previous breach included Bank Sepah, indicating a tactic against Iran's financial and military structures.
- The incident reveals the intertwining of crypto and geopolitical conflicts, prompting calls for stricter regulation.
- Speculations suggest the hack aimed at disrupting Iran's financial mechanisms amid escalating tensions between Iran and Israel.
- The cyberattack underscores the evolving role of cryptocurrencies in warfare and the need for heightened scrutiny of exchanges in restricted regions.
- The hack, not driven by financial gain, signifies a shift towards digital attacks as a means of making political statements.
- The inaccessible wallets pose challenges for fund recovery, marking a unique event in crypto history with implications for regulation and international conflicts.
- Cybersecurity experts are monitoring for potential future attacks on cryptocurrency exchanges in light of this significant incident.
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