As tensions between Iran and Israel intensify, the conflict has entered the crypto arena. Iran’s largest exchange, Nobitex, has been hit with an $70 million exploit — and a pro-Israel hacker group has claimed responsibility. It’s the latest sign that digital assets aren’t just financial tools, but also weapons in modern geopolitical warfare.
Meanwhile, Vietnam has made a bold move to legalise crypto under a sweeping new digital technology law, becoming the first country to do so with standalone legislation. In France, a crypto TikToker was kidnapped — and then released when his attackers realised he was broke. And in Singapore, nearly 50 people are under investigation for laundering scam proceeds through crypto wallets.
Here’s what you need to know this week.
Iranian crypto exchange Nobitex hacked for $70M in politically charged exploit
Iran’s largest crypto exchange, Nobitex, confirmed on Tuesday that it suffered a major security breach — with estimated losses of over $70 million in digital assets including Bitcoin, Dogecoin, and TRON.
The platform said the attack targeted its hot wallet systems and promised to reimburse affected users using its insurance fund and internal reserves. Cold-stored assets were reportedly not impacted.
The stolen funds were sent to vanity TRX wallet addresses with politically charged labels, including one named “FuckIRGCTerroristsNoBiTEX.” These addresses are effectively unspendable, meaning the assets have been burned. A pro-Israel hacktivist group known as Gonjeshke Darande (Predatory Sparrow) later claimed responsibility for the attack.
The group accused Nobitex of helping Iran bypass international sanctions and finance terrorism, and threatened to leak sensitive internal data and source code within 24 hours.
The hack follows a dramatic week of Israeli-Iranian hostilities, including missile strikes and retaliation across both nations. Experts say the timing and message point to a coordinated act of cyberwarfare.
Why this matters:
Crypto is no longer just a financial battleground — it’s a geopolitical one. This attack may mark a new phase of state-linked conflict, where digital financial infrastructure becomes a direct target in modern warfare.
Read more on Crypto News
TikTok crypto trader kidnapped in France over €50,000 demand
A 26-year-old crypto content creator with 40,000 TikTok followers was kidnapped in Juvisy-sur-Orge, France, on Friday night in a botched extortion attempt.
According to Europe 1, the victim was abducted by four assailants and forced into a stolen vehicle, where he was beaten and ordered to hand over €50,000 in crypto. But when he showed the attackers his low wallet balance, he was released the next day.
French authorities have confirmed an investigation is underway, with the Organized and Specialized Crime Division leading the case. The victim has been granted six days of work incapacity benefits following the ordeal.
This isn’t an isolated incident. France has seen a surge in crypto-related kidnappings this year, including attempted abductions of family members of exchange founders and a high-profile case where a victim had a finger severed. In total, 25 people have been charged in connection with crypto-linked abductions, and arrests continue across Europe and North Africa.
Why this matters:
As crypto wealth becomes more visible, so do the risks. Influencers and traders flaunting their success online are increasingly being targeted, not just by scammers, but by violent criminals. For the crypto industry, security is no longer just about private keys, but personal safety.
Read more on Cointelegraph.
Vietnam legalizes crypto under new digital technology law
Vietnam has passed landmark legislation formally recognising crypto assets and laying the groundwork for a national digital tech strategy.
The new Law on Digital Technology Industry, approved on June 14, introduces regulatory oversight for crypto assets and creates two asset classes: crypto assets and virtual assets. It also mandates cybersecurity and Anti-Money Laundering controls in line with global standards—likely in response to Vietnam’s ongoing placement on the Financial Action Task Force (FATF) grey list.
Beyond crypto, the law offers sweeping incentives to AI, semiconductor, and infrastructure firms—ranging from tax breaks to workforce subsidies and R&D support.
The Vietnamese government hailed the law as the world’s first standalone legislation dedicated to the digital technology industry.
Why this matters:
Vietnam is now positioning itself as a serious contender in the global tech race. By combining crypto regulation with AI and chip investment, the country is betting big on innovation. Other emerging markets will be watching closely.
Read more on Cointelegraph.
Singapore probes 49 for crypto-linked money laundering
Singapore police are investigating 49 people suspected of enabling crypto-based money laundering by selling access to their cryptocurrency accounts or digital IDs in exchange for cash.
The suspects—35 men and 14 women—allegedly handed over control of their crypto wallets or Singpass credentials after being approached via Telegram and WhatsApp. Payments ranged from $400 to $3,000.
The operation, carried out by the Anti-Scam Command in partnership with StraitsX, led to the seizure of over $200,000. Authorities say the joint effort allowed them to detect suspicious transactions more quickly.
The police reminded the public that letting others use your financial accounts—even for fast cash—could result in criminal charges, including up to three years in jail.
Why this matters:
This case highlights how crypto crime isn’t limited to big players—it’s also driven by everyday people drawn in by easy money. As regulators and platforms ramp up enforcement, those turning a blind eye to scams may find themselves in legal trouble.
Read more on The Straits Times.
