Nobitex is currently only accessible to verified users, as the company confirmed. Yet, key services such as withdrawals, deposits, and trading are still on hold. Earlier, Nobitex indicated it would resume withdrawal services by June 30, however, the timeline is subject to change.

Along with the financial damage, Gonjeshke Darande also claimed to have shared parts of the platform’s source code, amplifying the harm to Nobitex. Speculations by TRM Labs suggest that Israel could have utilized the stolen data from Nobitex to apprehend Iranian agents within Israel who were receiving payments in cryptocurrency.

As a response to the compromise, Nobitex announced the migration of users’ wallets, making deposits to existing wallets invalid. The exchange significantly exceeds its Iranian counterparts in terms of total inflows, boasting $11 billion compared to the $7.5 billion combined of the next ten largest exchanges, as per Chainalysis.

The research firm has associated Nobitex with a variety of illicit actors, including ransomware operators affiliated with the Islamic Revolutionary Guard Corps (IRGC) and sanctioned Russian crypto exchanges. Cryptocurrency usage in Iran, like in Russia, is frequently linked with evasion of global monetary sanctions.

Amir Rad, CEO of Nobitex, stated that the investigation into the breach implied Israeli government involvement, while maintaining that Nobitex operates as a private entity without any ties to the Iranian state or military.

Disclaimer: This article is for informational use only and does not constitute legal, tax, investment, financial, or other advice.

The post Nobitex, Iran’s Premier Crypto Exchange, Begins Recovery Process After a $90 Million Hacking Incident appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

The report drew attention to the arrests of three individuals in Israel, allegedly engaged in espionage activities for Iran, which involved surveillance, propaganda, and intelligence collection. The intriguing aspect of this case is that the alleged operatives were remunerated using digital assets, a rarely seen method of payment in state-sponsored espionage.

“Digital assets enable cross-border transactions without the need for traditional banking systems, which makes them an ideal tool for covert operations,” TRM Labs stated in their report.

One of the suspects, 28-year-old Dmitri Cohen, was purportedly paid $500 in cryptocurrency for each completed task by Iranian intelligence services. TRM Labs pointed out that these arrests occurred shortly after Nobitex, Iran’s largest crypto exchange, was hacked.

Despite no official confirmation of a connection between the hack and the arrests from Israeli authorities, TRM Labs suggests a potential correlation based on the timing and tactical profile.

The Nobitex hack occurred on June 18, where hot wallets across several networks were emptied, resulting in over $90 million in cryptocurrency asset losses. Notably, the pro-Israeli hacker group Gonjeshke Darande claimed responsibility for this cyber attack.

The group has a history of disrupting and collecting intelligence from Iranian-affiliated platforms. According to TRM Labs, the sequence of events, including Israeli strikes, the Nobitex breach, and the arrests, raises the potential that Israeli cyber units may have exploited the Nobitex data for intelligence purposes.

While direct public evidence linking the Nobitex breach to the espionage investigations is lacking, TRM Labs suggests that the theory aligns with known tactics used by Israeli cyber defense teams and Gonjeshke Darande’s operational history.

At the time of the hack, onchain analytics platform Chainalysis identified Nobitex as a critical player in Iran’s sanctioned crypto space, with numerous ties to illicit activities.

“Nobitex’s role goes beyond being a local exchange; it serves as a vital hub within Iran’s heavily sanctioned crypto ecosystem, providing access to global markets for users isolated from traditional finance,” Chainalysis report stated.

Previous onchain investigations have linked Nobitex to nefarious actors, including ransomware operators affiliated with the IRGC and sanctioned Russian crypto exchanges.

The post Israeli Cyber Units Potentially Involved in $90 Million Nobitex Hack for Espionage, Suggests TRM Labs appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

President Trump hinted on his social media platform, Truth Social, that he might advocate for a change in regime in the country. Within 24 hours of the strike announcement, over $1 billion in crypto assets were liquidated, as per data compiled by Coinglass. The majority of these liquidations affected long positions. However, these figures from Coinglass, which are based on publicly accessible data, may fall short of the actual volume of market liquidations.

In reaction to the U.S. strikes, Iran’s parliament has urged the nation’s leaders to shut down the Strait of Hormuz – a critical juncture for global oil commerce. This has led traders to anticipate a surge in oil prices when markets reopen. The final decision to close the strait lies with Iran’s leadership. Despite previous threats, the strait has never been successfully closed off.

On Sunday, Bitcoin’s price dropped below $100,000 for the first time in 45 days, reflecting the overall decline in the cryptocurrency market. Despite a nine-day streak of inflows for U.S. spot Bitcoin ETFs, the relatively weak inflows on Friday combined with BTC’s price drop may break this streak on Monday.

The GMCI30 index by The Block, which ranks the top 30 cryptocurrencies by market cap, has dropped almost 10% over the past week. This is despite being the best-performing index; smaller caps and AI tokens have been particularly affected by the selloff, dropping 17% and 20% respectively over the same period.

Disclaimer: The Block is a majority-owned by Foresight Ventures as of November 2023. Foresight Ventures invests in other firms in the crypto arena. Crypto exchange Bitget is a significant LP for Foresight Ventures. The Block maintains its independence to deliver objective and timely information about the crypto industry. Here are our current financial disclosures.

The post Crypto Market Plummets with More than $1B Daily Liquidations, Bitcoin Falls Under $100k After US Aggression in Iran appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

The bearish market trend has triggered a widespread sell-off among altcoins, resulting in almost $1 billion worth of liquidated positions, as per CoinGlass statistics.

As reported by CryptoPotato, the US has entered the ongoing conflict between Israel and Iran, with strikes on three key Iranian nuclear sites. Following this action, several media outlets suggest that the Iranian Parliament has voted to shut down the Strait of Hormuz, a vital oil transit chokepoint globally.

This political move has led to a sudden surge in oil prices, with an increase of nearly 1% in a day, sparking international concerns about inflation and potential economic instability. Traders are seemingly moving towards risk aversion, and it remains to be seen how far this market correction will go.

The post Bitcoin Plunges Under $100K Amid Iran’s Decision to Block Strait of Hormuz appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

The recent unease in the market is predominantly due to the escalating tension between Iran and Israel, with the United States now entering the fray. Market analysts are apprehensive that this conflict could cast a shadow over global financial markets, including cryptocurrencies, possibly triggering a steeper decline. As worries of a potential World War III escalate, investors are finding solace in safer options like gold and the US dollar, while volatile assets like Bitcoin and other cryptocurrencies are facing heavy sell-offs.

In the latest FOMC meeting, there was a surprising twist with interest rates remaining uncut, contrary to expectations. This pause in proceedings has stalled the market’s momentum and subdued hopes of a swift recovery. It appears that a bull market’s arrival might take a bit longer than anticipated.

Despite the current market volatility, investors are on the lookout for a bullish trigger to uplift the prevailing sentiment. There’s buzz around Bitcoin’s potential to skyrocket to $200,000 or even $250,000 by year-end. Jetking, an Indian firm that has been acquiring Bitcoin since 2022, shared with Coinpedia their prediction that Bitcoin prices might range between $140,000 and $150,000 by the end of the year.

Short-Term Bitcoin Price Action:

Bitcoin price momentarily hit ₹101,000 before making a slight recovery. However, the overall market sentiment remains pessimistic with lower volumes than Friday. Market experts are keenly observing the ₹100,000 support level — a critical point that must be maintained to evade a deeper correction.

Bitcoin is finding it tough to breach the ₹102,600 resistance zone. A possible recovery might be on the cards if Bitcoin can reclaim this level, but that hasn’t happened yet. If the price fails to maintain ₹100,000, another drop could follow, possibly accompanied by reduced trading volumes.

The post The $150K Bitcoin Vision: Unfazed by Market Fluctuations appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

This downward shift echoes investors’ fears that SOL’s upward trajectory is faltering. Respected analyst Carl Runefelt highlighted that Solana has executed a Head and Shoulders pattern, a bearish technical formation that often portends additional downward movement. SOL’s price has slipped below this pattern’s neckline, suggesting the possibility of further short-term declines.

Solana’s failure to regain its previous support levels during minor rebounds adds to the bearish perspective. With negative momentum indicators and a shaken broader market sentiment, a rapid recovery seems unlikely unless the macroeconomic climate steadies.

Solana, once a stellar performer of the previous cycle, is now battling a bearish market. Amid global macroeconomic uncertainties and intensifying geopolitical conflicts, Solana is struggling, trading over 50% below its all-time high. According to Runefelt, Solana’s completed Head and Shoulders pattern and the breach of the pattern’s neckline indicate a potential fall to around $106.30, a level last seen in February.

Such a decline mirrors the broader weakness in the altcoin market. Despite initial optimism for an altseason, capital has been withdrawn from high-risk assets, favoring Bitcoin and stablecoins amid the uncertainty. Solana’s inability to reclaim previous highs or establish higher lows suggests a retreating market. If the bulls don’t act swiftly, SOL may face an extended phase of consolidation or further losses.

Solana is feeling the squeeze as it plunges below the critical 200-day simple moving average (SMA) of $149.54. This breakdown points to increasing bearish sentiments and a loss of momentum after weeks of stagnation below the $155-$160 resistance zone. Currently, SOL is trading at roughly $135.99, down nearly 3% on the day and over 20% from its May peak.

The chart shows a rejection near the 100-day SMA (green line), and the sustained move below both the 200-day and 50-day SMAs (blue line) suggests a structure leaning heavily towards the downside. If the current trend persists, Solana could revisit the $120-$125 range, a strong support level in early Q1 2025. A daily close back above $149 would be required to neutralize the bearish short-term structure and shift the sentiment. Until then, the downside risks prevail.

The post Solana’s Critical Support Breach Signals Potential Fall to $106 Amid Global Tensions appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

It is alleged that the attackers drained at least $73 million from assets within the Tron network and Ethereum Virtual Machine (EVM)-compatible blockchains. However, only a segment of this amount has been confirmed as lost so far.

ZachXBT identified the attackers’ use of a “vanity address” to breach the protocol, leading to “suspicious outflows” from numerous wallets linked to Nobitex. A vanity address is a public wallet address that features a specific sequence of characters chosen by the user.

The first theft of $49 million was reportedly conducted through the address “TKFuckiRGCTerroristsNoBiTEXy2r7mNX.” The second address employed was “0xffFFfFFffFFffFfFffFFfFfFfFFFFfFfFFFFDead,” as per Tronscan.

The security breach contributes to the rising tally of crypto industry hacks in 2025. As reported by blockchain security firm CertiK, digital assets worth more than $2.1 billion have been stolen in this year alone. Hackers have now diversified their strategies from exploiting blockchain infrastructure to capitalizing on human weaknesses, says Ronghui Gu, co-founder of CertiK.

Gu explained during the Chain Reaction daily X spaces show on June 2, “The majority of this $2.1 billion was caused by wallet compromises, key mismanagement and operational issues.”

In schemes like address poisoning, hackers don’t need to employ any technical hacking techniques. Rather, they manipulate victims into transferring assets to fraudulent wallet addresses.

This is an ongoing story and will be updated as more details become available.

The post Nobitex Crypto Exchange in Iran Suffers Alleged $73M Exploit: Insights from ZachXBT appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Strategy’s co-founder, Michael Saylor, shared a Bitcoin BTCUSD chart, suggesting an impending purchase by the company amidst the escalating geopolitical conflict between Israel and Iran. “Bigger Dots are ₿etter,” Saylor informed his 4.4 million followers in a recent post, pointing towards a purchase in the near future. As per SaylorTracker, Strategy presently holds 582,000 BTC, making it the biggest known corporate Bitcoin holder. This potential acquisition signifies investor confidence in Bitcoin, which has remained stable around $105,000 during the Israel-Iran conflict. However, an escalation in the war and subsequent impact on energy prices could affect risk-on-asset markets.

In a significant legislative move, the National Assembly of Vietnam endorsed the Law on Digital Technology Industry on June 14, thereby bringing digital assets under regulatory surveillance. The law, which comes into effect on January 1, 2026, categorizes digital assets into virtual assets and crypto assets, excluding securities, digital fiat currencies, and other financial instruments from these categories. The government now needs to establish specific business conditions, classifications, and oversight mechanisms for these digital assets. This law also necessitates cybersecurity and Anti-Money Laundering measures in line with international standards, likely in response to Vietnam’s inclusion in the Financial Action Task Force’s (FATF) “gray list” since 2023.

Despite rising geopolitical tensions following Israel’s airstrikes on Iran, the Crypto Fear & Greed Index, a measure of overall crypto market sentiment, remains in the “greed” zone. The Index stood at 60 in its latest update, with Bitcoin falling 2.8% to $103,000 on Friday after Israel’s claimed responsibility for the explosions in Tehran, and Iran’s subsequent retaliation with ballistic missiles. Notably, Bitcoin is currently trading at $105,670, according to CoinMarketCap.

The post Crypto News Roundup: Bitcoin Acquisition Signals, Vietnam’s Crypto Legalization, and Market Sentiment Amid Israel-Iran Conflict appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Most larger-cap altcoins, including HYPE, also saw a slight dip with a 5% dump, whereas PI’s value increased by an equivalent percentage.

The leading cryptocurrency experienced a surge at the start of the last week, breaching the $110,000 mark multiple times by Wednesday. However, each surge ended with an immediate reversal, with the last one plummeting BTC below $106,000.

On Thursday, although Bitcoin managed to regain some of its lost ground, reaching up to $108,400, the rapidly intensifying Middle East conflicts triggered an abrupt price fall, pushing the asset below $103,000.

Despite the ongoing attacks and retaliations from Iran, BTC managed to regain some stability and even surpassed $106,000 after a few hours. However, Trump’s renewed threats to Iran, promising to unleash the full force of the US military if Iran retaliates, led to a further decline in Bitcoin’s price.

Despite the fluctuations, Bitcoin maintains a value above $105,000. Its market cap is still under $2.1 trillion, and it accounts for 61.7% of the total cryptocurrency market, according to CG.

Larger altcoins are in the red again, with Ethereum maintaining above $2,500 despite a slight dip. Other cryptocurrencies, including DOGE, BNB, LINK, XRP, and SOL, have also seen around a 1% decline. HYPE is the biggest loser among the larger-cap altcoins, shedding 5% of its value.

In contrast, the Pi Network’s token has risen by 5% and is now trading above $0.6 following the recent sharp downturn on Friday.

AB has made its way into the top 100 altcoins, having soared by 20%. The total cryptocurrency market cap has declined by roughly $20 billion since yesterday, standing at $3.380 trillion, as per CG.

The post Bitcoin Tumbles from $106K Amid Rising Middle East Tensions and Trump’s Iran Threats: What’s Next? appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

In its Sunday update, the Index recorded a score of 60, signifying unshaken optimism even as Bitcoin (BTC) experienced a 2.8% dip, closing at $103,000 on Friday. Bitcoin’s drop occurred in the wake of explosions in Tehran on Thursday evening, for which Israel assumed responsibility. Iran responded with a volley of ballistic missiles on Friday night.

Despite these events, Bitcoin was on the brink of revisiting its all-time high of $111,970 recorded on May 22. As of now, Bitcoin is trading at $105,670, as reported by CoinMarketCap. In contrast, Ether (ETH) saw a more significant slump, dropping 10.79% to $2,454, before bouncing back to $2,534.

Crypto market observers have taken note of Bitcoin’s relative resilience amidst these geopolitical developments. Crypto analyst Za commented, “Bitcoin does not seem concerned about the Israel and Iran conflict (yet).” With Bitcoin’s consistent performance, confidence remains high that it will hold above the significant $100,000 level, which it regained on May 8 after a three-month hiatus.

Meanwhile, Spot Bitcoin exchange-traded funds (ETF) recorded steady inflows for the week ending Friday, aggregating $1.37 billion. In contrast, spot Ether ETFs saw their 19-day inflow streak come to an end on Friday with net outflows of $2.1 million.

Interestingly, Bitcoin’s price dip following Friday’s airstrike was less severe than the drop witnessed in April 2024, post Iran’s direct attack on Israel. This attack, in retaliation to Israeli bombings of the Iranian embassy in Damascus, had caused BTC to plunge 8.4% on April 13, 2024.

The post Crypto Market Resilience Persists Despite Increased Israel-Iran Tensions appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.