Iran Imposes 10AM–8PM Crypto Trading Curfew After $100M Nobitex Hack
Iran’s Central Bank has ordered all domestic crypto exchanges to operate only between 10 AM and 8 PM following a $100 million Nobitex hack attributed to the Predatory Sparrow group. The cyberattack destroyed about $90 million in digital assets and exposed Nobitex’s full source code. Nobitex, which controls nearly 90% of Iran’s crypto market, initially called the incident a “preemptive technical operation” but later confirmed the loss in assets in what it called a “psychological attack.”
Under the new regulation, the crypto curfew aims to tighten oversight during off-hours when security teams are less active. The Central Bank says this is a temporary measure pending further investigation, but warns of potential additional restrictions. Nobitex plans a phased platform recovery over five days, adding stricter withdrawal limits, enhanced multi-factor authentication, and real-time threat monitoring. Traders in Iran must now adjust to limited trading hours amid heightened regulatory scrutiny and cybersecurity risks.
Bearish
The imposed crypto curfew and the scale of the Nobitex hack are likely to dampen trading volume and increase risk aversion among investors. Night-time restrictions reduce market liquidity and narrow trading windows, which historically leads to higher spreads and volatile price swings. Similar post-hack regulatory crackdowns in other markets drove short-term sell-offs and cautious positioning. In the long term, increased security measures could restore some confidence, but persistent regulatory uncertainty in Iran will keep traders on edge.