On Wednesday, Iran’s central bank told local cryptocurrency exchanges to open only from 10 am to 8 pm after Nobitex lost about $100 million in a hack claimed by a pro‑Israel group.
The bank took this step in Tehran to keep a closer watch on any future attacks and to tighten control over digital money flowing out of the country. Officials say the shorter hours will enable staff to spot and address problems more quickly.
Limited Trading Times
Under the new rule, all domestic crypto platforms must shut down outside the 10 am to 8 pm window.
By setting a clear schedule, regulators aim to catch suspicious transfers before they go too far. Limiting access at night should make any irregular movements easier to notice and deal with promptly.
Chainalysis Insight
Chainalysis, a blockchain data firm, reported these changes in a blog post on Wednesday.
Andrew Fierman, who leads national security research there, said that most teams work during the day and can react faster to threats. He added that tackling incidents is far harder when they strike in the dead of night.
Details of the Attack
Nobitex, Iran’s largest crypto exchange by volume, found out about the breach early Wednesday morning. The hackers, known online as Predatory Sparrow or Gonjeshke Darande, said they acted for political reasons.
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They used one‑time wallet addresses with no backwards link to their real keys, making it tough to trace or recover the stolen funds.
Earlier this week, the same group targeted Bank Sepah, one of the nation’s biggest state banks. Security experts say the timing of both hits, coming amid growing tension between Iran and Israel, points to a clear political aim rather than a simple grab for cash.
Nobitex’s Response
In a post on X(Twitter), Nobitex’s communications team said user funds remained safe. They moved most of their Bitcoin holdings into new cold storage wallets to keep them off the internet. The exchange cut off all outside connections to its servers as part of its emergency measures.
Users cannot log in yet, but Nobitex promised that its reserve fund would cover any losses. Its tech team is clearing out hot wallets and moving coins into offline vaults.
Company spokespeople warned that internet limits and extra security checks might delay when customers get back online.
Wider Context
Cryptocurrency plays a big part in how people in Iran send money abroad, especially under heavy economic sanctions.
But the government often worries about capital fleeing the country. By curbing trading times, the regime can monitor flows and reduce the risk of large sums vanishing under the cover of darkness.
The curfew on crypto platforms may stay in place for as long as threats remain high. Exchanges will likely have to show they can spot and stop illegal moves before they can go back to round‑the‑clock service.
At the same time, security teams across Iran will keep watching for any sign of another Predatory Sparrow strike.
Also Read: Iran’s Senior IRGC Investigators Accused of Embezzling Over $21 Million in Crypto Assets