[Iranian Exchange Nobitex Hacked, $90 Million Destroyed] In the early hours of June 18, 2025, Iran's largest cryptocurrency exchange, Nobitex, had its hot wallet attacked by the hacker group Gonjeshke Darande, resulting in losses exceeding $90 million. The funds were transferred to eight 'black hole addresses' from which they cannot be retrieved, with the addresses containing inscriptions mocking the Iranian Revolutionary Guard Corps. Independent investigators analyzed and discovered that these funds matched previously Revolutionary Guard-linked funds that had flowed into Nobitex. Following the incident, Nobitex mitigated the liquidity crisis by consolidating dormant wallet funds, shedding light on Iran's massive crypto mining industry and the complex political and economic network behind it.