Nobitex, Iran’s largest cryptocurrency exchange, has confirmed a $48.65 million security breach affecting its hot wallets on the Tron blockchain. The exchange emphasized that cold storage assets remain fully secured and pledged to cover all user losses through its insurance fund and company resources.
According to blockchain investigator ZachXBT, the stolen funds were rapidly transferred to unknown Tron addresses, underscoring vulnerabilities in transaction monitoring. This incident ranks among Iran’s most significant disclosed cryptocurrency hacks, potentially prompting intensified regulatory scrutiny over regional exchange security standards.
Nobitex temporarily suspended all platform services to investigate the exploit and implement enhanced security measures. The company reiterated its commitment to transparent communication while prioritizing the protection of user assets during the remediation process.
The breach highlights operational challenges faced by exchanges operating in jurisdictions with limited regulatory frameworks, which may complicate international coordination in fund recovery efforts.