Iran’s Financial Giants Fall as Predatory Sparrow Hacks Nobitex and Top Banks

On 18 June 2025, Nobitex Exchange reported a hack affecting its internal communications and a small amount of its hot wallet. The platform’s security team reacted immediately to the breach after detecting it earlier in the day. Nobitex promptly isolated the compromised systems and initiated an in-depth investigation in accordance with industry best practices.

There was also an indication that only part of the hot wallet was compromised, and day-to-day liquidity is stored in it. Most of the assets of users who store their assets in cold wallets were not affected by the incident. To put the minds of its customers at ease, Nobitex assured them that it would incur no financial loss, as all potential losses would be absorbed by the company’s insurance fund and internal reserves. Due to security concerns over potential data breaches, Nobitex has taken a precautionary measure to lock down the platform (website and mobile application) until a comprehensive security audit has been conducted to strengthen all systems.

Nobitex also focused on transparency and security, promising to update users as the investigation progressed. The rapid reaction and promises that the platform will not lose the trust of the users remind us of the necessity of high-level security procedures in the modern digital economy of money.

Iranian Banks Hacked Amid Heightened Security Tensions

Iranian banks have been targeted by numerous cyberattacks, which have exacerbated the country’s security issues. As RNA Breaking reports, significant disruptions were created in Pasargad Bank and Melli Bank in Iran after Sepah Bank was hacked. Accounts in Sepah Bank were reportedly cleared out, and customers of Melli Bank also experienced issues accessing their accounts; therefore, authorities issued warnings to withdraw money. The assaults have thrown panic concerning the susceptibility of the Iranian banking system, especially due to the rising tensions against Israel.

The attack has been attributed to the Predatory Sparrow (Gonjeshke Darande/گنجشک درنده) hacking group, known for its anti-Iranian tendencies and suspected ties to Israel. The group also placed adverts on social networks, where they aimed to accuse the bank of aiding the Iranian military agenda. The hackers stated that the primary intention of the attack was to compromise vital information and disrupt the financial services that support the Iranian government.

Successful attempts on Iranian banks demonstrate the increasing dangers in the sphere of cyber warfare; the digital framework has become the most favorable object of interest when dealt with by state-funded or politically biased hacker groups. The magnitude and severity of these hacks suggest that other financial institutions in the area may also be vulnerable to similar risks.

Cybersecurity Concerns Escalate as Digital Infrastructure Becomes a Target

The recent case of Nobitex and Iranian banks highlights a growing pattern of hazards to digital and financial infrastructure worldwide. Cybersecurity is one of the most important issues as more governments and industries lean towards digitalization. The incident at Nobitex has demonstrated that, despite its occurrence and the fact that it involved only a small part of the exchange platform, cryptocurrency platforms must implement stricter security protocols to safeguard users’ funds. On the same note, the cases of Iranian attacks on their banks are indicative of the stabilizing power of state-sponsored cyberattacks on financial institutions and the confidence of the society.

Governments and other entities in the private sector should invest in robust cybersecurity systems, as the nature of digital threats continues to evolve. This will entail maintaining the integrity of the financial systems, utilizing advanced encryption technologies, and providing personnel training in identifying and responding to emerging threats. The increasing popularity of cyberattacks against the financial sector necessitates close cooperation between the public and private sectors to establish effective protection against malicious individuals.

Nobitex, in its case, provided prompt action in isolating the affected systems, and an almost transparent account had mitigated the effects of the breach. But the Iranian banking hacks present a wake-up call as to how weak the backbone of the economy can be and the general threats that the current war in the Middle East represents.

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