One week into the Israeli-Iranian conflict, cyber warfare has officially escalated with Israeli cybercriminals, known as Predatory Sparrow, asserting responsibility for a $90 million heist from Iran’s major crypto platform, Nobitex. Their message is clear: challenge Israel at your peril. The stolen assets were transferred to untraceable wallets, rendering them permanently unavailable.

The hack specifically targeted wallets associated with Iran’s Islamic Revolutionary Guard Corps (IRGC). Analysts have reported that these hackers managed to extract more than $90 million in cryptocurrencies including Bitcoin, Ethereum, Tether (USDT), and Dogecoin.

Instead of making the usual attempt to launder the assets, the stolen funds were destined for so-called “burn addresses,” making recovery impossible.

Official Statement
Nobitex Security Incident — June 18, 2025
Earlier today, June 18, Nobitex identified unauthorized access to parts of its infrastructure, specifically affecting our internal communication systems and a portion of our hot wallet.

From Trains to Tokens: Predatory Sparrow’s War on Iran Started in 2021

They have a history of targeting Iran’s critical infrastructure, having been linked to attacks on anything from the country’s railroads to gas stations and military locations. However, the heist at Nobitex marks a pivotal shift towards leveraging digital currencies in geopolitical conflict.

Israeli Hackers Weaponizing Crypto for Geopolitical Reminders

The attack on Nobitex illustrates the strategic use of cyber tactics in political disputes. This platform serves as a vital gateway for countless Iranians, often used to bypass international sanctions.

Financial regulators and cybersecurity professionals are sounding alarms for the need for fresh global laws to oversee these increasingly complex cyber operations.

In summary, while the attack’s fiscal impact on Iran is significant, it highlights a major vulnerability in its digital financial landscape. It also poses a broader question for the world: Is cryptocurrency fast becoming the main battleground in modern warfare?