The Israel-linked hacker group known as Predatory Sparrow has carried out some of the most disruptive and destructive cyberattacks in history, twice disabling thousands of gas station payment systems across Iran and once even setting a steel mill in the country on fire. Now, in the midst of a new war unfolding between the two countries, they appear to be bent on burning Iran's financial system.

Predatory Sparrow, which often goes by its Farsi name, Gonjeshke Darande, in an effort to appear as a homegrown hacktivist organization, announced in a post on on its X account Wednesday that it had targeted the Iranian crypto exchange Nobitex, accusing the exchange of enabling sanctions violations and terrorist financing on behalf of the Iranian regime. According to cryptocurrency tracing firm Elliptic, the hackers destroyed more than $90 million in Nobitex holdings, a rare instance of hackers burning crypto assets rather than stealing them.

“These cyberattacks are the result of Nobitex being a key regime tool for financing terrorism and violating sanctions,” the hackers posted to X. “Associating with regime terror financing and sanction violation infrastructure puts your assets at risk.”

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After an attack on Iran’s Sepah bank, the hyper-aggressive Israel-linked hacker group has now destroyed more than $90 million held at Iranian crypto exchange Nobitex.

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