Geopolitical tensions in the Middle East have spilled over into the crypto industry. On Tuesday, Nobitex, the largest crypto exchange in Iran, was hacked for more than $90 million, according to the crypto analytics firm Elliptic. A group that calls itself Gonjeshke Darande, or “Predatory Sparrow,” claimed responsibility for the hack. “These cyberattacks are the result of Nobitex being a key regime tool for financing terrorism and violating sanctions,” Predatory Sparrow wrote on X.
Instead of pocketing the $90 million of Bitcoin, Dogecoin, and more than 100 different cryptocurrencies that they raided, the hacking group decided to destroy (“burn” in crypto parlance) the funds instead so as to send a political message, according to Elliptic.
