Devastating Nobitex Hack: Source Code Leaked After $100M Exploit

The world of cryptocurrency exchanges is often a high-stakes environment, and recent events surrounding the Iranian platform Nobitex have sent shockwaves through the community. A major security breach, now known as the Nobitex hack, has resulted in significant financial losses and, critically, the public release of the exchange’s internal workings. For anyone holding assets on the platform, this development raises immediate concerns.

Who is Behind the $100M Hack?

Responsibility for the exploit has been claimed by a group identifying themselves as “Gonjeshke Darande,” described as a pro-Israel entity. They stated their motive was tied to Nobitex’s alleged connections to the Iranian government and activities violating international sanctions. This suggests the $100M hack might be more politically driven than typical cybercrime.

The Source Code Leak: What Does It Mean?

Adding a critical layer of risk, Gonjeshke Darande followed through on threats to release sensitive data. They published the platform’s full source code leak, alongside details about security measures, server lists, and cold storage scripts. This leak is particularly dangerous because it could expose vulnerabilities, potentially making it easier for others to access or exploit remaining user assets on the exchange.

The hackers announced the leak on social media, stating, “Time’s up – full source code linked below. ASSETS LEFT IN NOBITEX ARE NOW ENTIRELY OUT IN THE OPEN.” This stark warning highlights the severe implications for anyone still using the platform.

More Than Just a Crypto Exchange Hack?

While initially reported as a massive financial theft, the nature of the exploit suggests a different primary goal. Security researcher Yehor Rudytsia noted that the movement of assets to “clean burner addresses” indicates it might be a “political statement rather than a typical financially motivated theft.”

Key points about the exploit:

• Around $100 million in various cryptocurrencies was taken.
• The group Gonjeshke Darande claimed responsibility.
• The motive cited was alleged ties to the Iranian government and sanctions violations.
• Wallet analysis suggests a political statement may have been the primary driver.
• USDT might potentially reissue the $55 million in stolen stablecoins, offering a slim chance of partial recovery for some funds.

Further supporting the non-financial motive, the hackers claimed to have burned a significant portion of the stolen funds.

$90 Million in Assets Reportedly Burned

In a dramatic turn, Gonjeshke Darande announced they had permanently removed a large sum from circulation. “8 burn addresses burned $90M from the wallets of the regime’s favorite sanctions violation tool, Nobitex,” they posted. This claimed destruction of funds reinforces the idea that the attack’s purpose extended beyond simple financial gain, potentially aiming to disrupt or punish the exchange and its alleged affiliates.

Nobitex’s Response and the Path Forward

Nobitex has acknowledged the incident and stated that no additional financial losses have occurred since the initial exploit. The exchange is working to restore services and expects to be operational within approximately five days. However, progress is reportedly being slowed by internet disruptions within Iran, possibly related to the ongoing national crisis and conflict with Israel.

The crypto exchange hack occurred amidst heightened tensions, just days after renewed strategic missile strikes between Israel and Iran began on June 13th. This geopolitical backdrop provides crucial context for understanding the timing and alleged motives of the attack.

Nobitex users are currently awaiting a public statement from CEO Amir Rad, expected to detail the platform’s recovery strategy and future steps. In the wake of the incident, reports also indicate that Iran’s central bank has imposed temporary operating hour restrictions on domestic crypto exchanges, limiting them to 10:00 am to 8:00 pm.

Summary: What We Know About the Nobitex Hack

The Nobitex hack by Gonjeshke Darande represents a significant and complex security event. While involving a substantial $100M hack, the actions, including the source code leak and reported asset burn, point towards a politically motivated attack rather than standard cyber theft. The leak of the exchange’s code poses ongoing risks to any remaining user assets. As Nobitex works towards recovery, the incident highlights the vulnerabilities of cryptocurrency platforms, especially those operating in politically charged environments, and the evolving nature of cyber threats in the digital asset space.