Iran’s central bank has enforced a strict curfew on local cryptocurrency exchanges after Nobitex, the nation’s largest crypto platform, was hacked for an estimated $100 million. The new regulation, limiting crypto trading activity to 10 a.m. to 8 p.m., follows an alarming breach allegedly carried out by pro-Israel hacker group Gonjeshke Darande.

According to blockchain analytics firm Chainalysis, the attack appears politically motivated rather than financially driven. The stolen assets—spanning Bitcoin, Ether, Dogecoin, XRP, and Solana—were sent to burner wallets, making recovery impossible. Chainalysis experts believe the intent was to disrupt the Iranian regime, especially amid escalating tensions with Israel following military strikes earlier in June.

Andrew Fierman of Chainalysis noted that the time restriction may help authorities better manage future incidents, particularly those occurring overnight. He also pointed out that Iran may be attempting to clamp down on capital flight by exerting tighter control over cross-border crypto transactions.

This isn't the first time Iran has intervened in crypto operations. In December, the government temporarily shut down exchanges to halt the depreciation of the Iranian Rial. The Nobitex attack, however, has triggered a deeper response, including server lockdowns and the transfer of hot wallet funds to cold storage.

Despite the breach, Nobitex says the situation is under control and that all affected assets will be reimbursed from its reserve fund. Still, user access remains suspended as technical teams work through connectivity issues.

With over $11 billion in inflows, Nobitex serves as a vital link to global markets for Iranian users. Its takedown exposes vulnerabilities in the region’s digital infrastructure and highlights the growing weaponization of crypto in geopolitical conflicts.