Iran restricts Bitcoin Exchange Hours

Iranian authorities have restricted the operating schedule of cryptocurrency exchanges, allowing them to work only between 10 in the morning and 9 at night.

This measure was implemented after a high -range cyber attack that hit Nobitexthe main cryptoactive platform in Iran, causing losses greater than 90 million dollars (USD).

The incident, which took place on Wednesday, June 18, caused the loss of funds in various cryptocurrencies, including Bitcoin (BTC), Ethher (Eth), Dogecoin (Doge), XRP, Solana (Sun), Tron and Toncoin.

As Cryptonotics reported, the Proisraelí Gonjeshke Darende Group, also known as “Predatry Sparrow”, was awarded the responsibility of the attack.

In fact, the group not only attributed the hacking, but also threatened to disseminate internal information and the source code of the platform, accusing it of being a digital arm of the Iranian regime.

These statements place Nubitex as a key actor in the alleged financing of illegal activities and in the evasion of international sanctions, according to Gonjeshke Darende.

The attack adds to another recent attributed to the same group, which had as white to Bank SEPAH, one of Iran’s largest state banks. Right now the authorities face a constant increase in cyber attacks, with more than 6,700 attempts to denial (DDOS) reported in recent days.

A new report from the on-chain chainysis research firm revealed that the Wallets employed by attackers were temporary directions for unique usesuggesting that the main objective of cyber attack was to cause political or destabilizing impact, rather than obtaining personal economic gains.

According to the report, Nobitex, which has managed a total volume of transactions exceeding 11 billion dollars, issued a statement to reassure its users ensuring that their funds are protected. On the other hand, the platform has transferred large amounts of bitcoin to new cold storage wallets to strengthen its safety.

According to Chainysis, Time limitations to cryptocurrency exchanges seem to integrate into a broader government strategy to increase supervision and control About trade in the country.

“This operational curfew could indicate an increase in pressure on the exchanges that operate within Iran, since the regime tries to manage the systemic risk in a market that plays a huge role in navigation around global sanctions,” said Chainysis.