"Nobitex hacking funds effectively burned… Amounting to $90 million"

JOON HYOUNG LEE

Summary

Nobitex suffered a hack in which around $90 million was stolen, and it was reported that the stolen funds have been effectively burned.
Chainalysis reported that the hacker made the funds permanently inaccessible by sending them through a vanity address containing a political message.
This hacking incident indicates that cryptocurrency hacks may not always be for monetary gain, and that blockchain technology can be used to deliver geopolitical messages.

It has been revealed that funds amounting to $90 million (about ₩120 billion) stolen from Iran’s largest cryptocurrency exchange, Nobitex, in a hacking attack have been effectively burned.

Blockchain analytics firm Chainalysis, through its official X account on the 18th (local time), stated, "The Iranian cryptocurrency exchange Nobitex has had more than $90 million stolen in a hacking incident," and added, "the hacker has effectively burned the stolen funds." Chainalysis explained, "The hacker used a vanity address with a political message to transfer the stolen funds, making them permanently inaccessible." A vanity address is a wallet address created with a specific intended message.

Chainalysis emphasized, "This incident shows that cryptocurrency hacking is not necessarily always for monetary gain." Chainalysis further stated, "(Hacking) can be used as a means to convey geopolitical messages through blockchain technology, and this incident demonstrates how hacks can be transformed from profit-driven crimes into ideological statements."

Meanwhile, Nobitex suffered a large-scale hack on the 18th. The hacker group known as Gonjeshke Darande, which is believed to have attacked Nobitex, issued a statement on the same day, claiming, "Nobitex is being used by the Iranian regime to evade international sanctions and finance terrorism," and warned, "The remaining assets on Nobitex will continue to be at risk."

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