Nobitex Hack Exposes $100 Million Loss, Users Fully Compensated

Iran‘s largest cryptocurrency exchange, Nobitex, has confirmed a major security breach resulting in the loss of approximately $100 million in digital assets. The attack targeted the platform’s hot wallets, prompting an immediate response to secure user funds by cutting all external server access and draining wallet balances as a precaution.

According to on-chain investigator ZachXBT, the attackers exploited a vulnerability involving vanity addresses—customized wallet addresses with recognizable character strings. At least $81 million was stolen across the Tron network and EVM-compatible blockchains. Some of the compromised wallets used provocative addresses containing political references, suggesting the hack was intended as a statement rather than a financial crime. Some funds appear to have been sent to unusable “burn” addresses, effectively destroying the assets.

Nobitex reassured users that cold wallets remained untouched and that all user losses would be fully covered by its reserve fund. The company emphasized that customer assets are “completely safe,” and restoration efforts are underway, though slowed by network and access restrictions.

Cybersecurity firm Cyvers attributed the breach to a serious lapse in access control, which allowed attackers to infiltrate internal systems and execute unauthorized transfers from multiple blockchains. Despite the scale of the theft, the stolen funds have yet to be moved—a detail that further supports the theory of symbolic intent behind the attack.

This incident adds to a growing list of crypto security breaches in 2025. According to blockchain security firm CertiK, over $2.1 billion in digital assets have already been lost this year, mainly due to private key leaks, operational mismanagement, and social engineering scams such as address poisoning.

As the digital asset landscape grows more complex, incidents like the Nobitex hack highlight the urgent need for stronger security infrastructure and regulatory oversight. For investors, selecting reputable and well-secured platforms remains critical—especially in regions with heightened geopolitical risk. WikiFX will continue to monitor developments and provide updates for the trading community.