Iran's largest cryptocurrency exchange Nobitex was hit by a cyber attack in the early hours of June 18, with over $100 million in digital assets transferred to an irretrievable burn Address. This incident prompted the Central Bank of Iran to swiftly implement nationwide exchange operating hour restrictions, from 10 AM to 8 PM, in an attempt to strengthen the regulation of capital flows amid financial turmoil.

The mastermind behind this network intrusion is the hacker group Predatory Sparrow, which does not act for economic gain but has adopted a strategy of total asset destruction. The attackers infiltrated the hot wallet system and sent Bitcoin, Ethereum, and other crypto assets directly to an unextractable "black hole address," resulting in the permanent disappearance of these assets.

It is worth noting that hackers left satirical messages on the blockchain targeting the Iranian Islamic Revolutionary Guard Corps, clearly with political motives. Previous reports indicated that this hacker group has ties to Israel, and the backdrop of this attack is the escalating tensions in the Middle East.

This event highlights the vulnerability of the crypto assets field in international political conflicts. Although digital assets have decentralized characteristics, they still cannot completely avoid geopolitical risks. Security issues of exchange platforms and sudden changes in national regulatory policies can have far-reaching effects on the crypto assets market.