Iran enforces emergency curfew after devastating heist by pro-Israel hackers
Iran enforces emergency curfew after devastating heist by pro-Israel hackers originally appeared on TheStreet.
The Central Bank of Iran has reportedly asked all local crypto exchanges to operate only during limited trading hours between 10 AM and 8 PM, the on-chain analytics platform Chainalysis reported on June 18, citing reports.
The Iranian authorities have taken the urgent step following an Israel-linked hacking group called Gonjeshke Darande conducting a cyber heist on Nobitex, the largest crypto exchange in Iran, that led to a loss of more than $90 million.
Chainalysis' head of national security intelligence, Andrew Fierman, told TheStreet Roundtable that it is possible that operational restrictions accomplish multiple goals for the Iranian regime. He explained:
Firstly, operational security is likely top of mind for the regime and domestic Iranian exchanges at this time and incidents are more easy to triage if they're not happening in the middle of the night. Secondly, while the people of Iran leverage cryptocurrency exchanges to facilitate cross-border transactions, the Iranian regime may want to assert more control over their citizens' transactions.
Fierman added this isn't the first time that Iran's central bank had earlier tried restricting crypto exchange operations. But then, the reasons behind the decisions seemed altogether different — combating the devaluation of the Iranian Rial, the local currency.
As reported earlier, Iran has relied on crypto for years to circumvent global economic sanctions. The country has also emerged as a major hub of crypto mining operations due to its relatively cheaper power rates.
Finance remains among the most prominent targets during the Israel-Iran war, with neither physical nor virtual financial infrastructure being spared.
Iran enforces emergency curfew after devastating heist by pro-Israel hackers first appeared on TheStreet on Jun 19, 2025
This story was originally reported by TheStreet on Jun 19, 2025, where it first appeared.
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