The emergency order follows a high-profile breach of Nobitex, Iran’s largest crypto exchange, which was hacked for nearly $90 million. According to local reports, the attack is believed to be linked to Gonjeshke Darande (Predatory Sparrow), a pro-Israel hacking group previously associated with cyber operations against Iranian infrastructure.

Security Over Access

The curfew is framed as a cybersecurity measure intended to reduce exposure during off-peak hours—times authorities claim are more susceptible to foreign attacks. By limiting trading to standard business hours, Iranian officials hope to tighten oversight and lower systemic risk in a vulnerable sector.

However, the policy marks a sharp break from global norms. The crypto market is inherently built around decentralization and uninterrupted access, and the move is seen by critics as a step backward in terms of market openness and technological progress.

Industry Impact and Backlash

Iran’s new limitations could have far-reaching implications for both retail and institutional traders in the country. The Nobitex breach not only exposed serious cybersecurity weaknesses but also prompted concerns about how state controls might affect broader crypto adoption.

While authorities stress the need for greater protection, the reduced access window may ultimately erode user trust in local platforms—especially as international exchanges continue to operate without time restrictions.

The situation underscores how geopolitics, cybersecurity, and financial innovation are increasingly intertwined, with Iran’s latest move highlighting the delicate balance between risk mitigation and market freedom in the digital age.

The post Iran Imposes Crypto Curfew After $90M Hack Amid Rising Cyber Threats appeared first on Coindoo.

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Filed under: Bitcoin - @ June 19, 2025 10:16 am