Israel – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Wed, 27 Aug 2025 01:30:59 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.8 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 Israel – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Iranian crypto flows fall 11% on Israel conflict, Nobitex hack: TRM Labs https://earlybirdsinvest.com/iranian-crypto-flows-fall-11-on-israel-conflict-nobitex-hack-trm-labs/ https://earlybirdsinvest.com/iranian-crypto-flows-fall-11-on-israel-conflict-nobitex-hack-trm-labs/#respond Wed, 27 Aug 2025 01:30:58 +0000 https://earlybirdsinvest.com/iranian-crypto-flows-fall-11-on-israel-conflict-nobitex-hack-trm-labs/

Flows into Iranian crypto trading platforms have fallen in 2025 due to a breakdown in nuclear negotiations with Israel, a $90 million hack on Iran’s largest crypto exchange, and a major stablecoin blacklisting, says blockchain analytics firm TRM Labs.

Iranian crypto flows hit $3.7 billion between January and July, an 11% decrease compared to the same period last year, with the worst drop off coming in June and July, TRM Labs said in a report on Tuesday.

“This downturn coincided with a breakdown in nuclear negotiations, a 12-day conflict with Israel beginning June 13, and widespread power outages in Iran — driven by a combination of Israeli kinetic and cyber operations, as well as regime-initiated shutdowns.”

Iran’s crypto flows started to sharply drop in June, just after the $90 million hack on Nobitex, which handles 87% of the country’s crypto transactions. 

Many Iranians rely on US dollar stablecoins as a store of value amid skyrocketing inflation and to skirt tough sanctions on the country, which has largely cut it off from the global economy.

Nobitex hack big contributor to Iran’s crypto shake-up

Confidence in Iran-based virtual asset service providers (VASPs) deteriorated following Nobitex’s security breach, which came at the hands of pro-Israel group Predatory Sparrow on June 18 — when tensions between Iran and Israel were at their peak.

While Nobitex continues to dominate Iran crypto transaction volume, the incident disrupted liquidity, slowed transaction processing and temporarily pushed users toward alternative platforms, TRM said.

Share of crypto transaction volume among Iranian VASPs between January and July. Source: TRM Labs

Heightened Iran-Israel tensions further amplified the outflows, which surged more than 150% in the worst week and a large percentage of that volume headed to high-risk foreign exchanges with little to no Know Your Customer checks, TRM said.

Tether’s blacklisting slowed flows

Stablecoin issuer Tether also carried out its largest-ever freeze of Iranian-linked funds, blacklisting 42 crypto addresses with Tether (USDT) balances on July 2.

The incident sparked a coordinated push from Iranian exchanges, influencers and state-backed channels for users to offload their TRON-based USDT balances — Iran’s most widely used network and token — and move funds into Dai (DAI) on Polygon.

Related: UAE reportedly holds $700M in mined Bitcoin: Arkham

Many everyday Iranians continue to turn to crypto as a hedge against inflation, TRM said, highlighting Iran’s strong reliance on stablecoins.

Iran continues to use crypto for political objectives

Iran is still relying on crypto to pay for sensitive goods from Chinese chip resellers, including hardware critical for artificial intelligence, drone components, and other electrical equipment — enabling it to effectively bypass sanctions, TRM noted.

It has also used crypto to fund espionage payments with foreign operatives, the crypto analytics firm added.

However, illicit crypto transactions in Iran still only account for less than 1% of total volume.

Magazine: Bitcoin is ‘funny internet money’ during a crisis: Tezos co-founder

]]> https://earlybirdsinvest.com/iranian-crypto-flows-fall-11-on-israel-conflict-nobitex-hack-trm-labs/feed/ 0 55297 Israel Will Buy BTC and ETH and Give it to a Gambling Offender https://earlybirdsinvest.com/israel-will-buy-btc-and-eth-and-give-it-to-a-gambling-offender/ https://earlybirdsinvest.com/israel-will-buy-btc-and-eth-and-give-it-to-a-gambling-offender/#respond Sat, 28 Jun 2025 11:07:36 +0000 https://earlybirdsinvest.com/israel-will-buy-btc-and-eth-and-give-it-to-a-gambling-offender/

Israel will buy 19.15 BTC and 83 ETH, collectively worth over $2.2 million. But if you think that this is a step toward adopting crypto or that the country is planning to establish an alternative currency reserve – well, think again.

Shai Siboni – a popular Israeli footballer, who’s also a known gambling offender – had his crypto wallet “lost” while he was detained in police custody over two years ago.

Speaking on the matter was a police official, who said:

This is a serious oversight and it is still unclear how the wallet disappeared.

So, to make up for the “oversight,” the state of Israel will purchase a brand new digital wallet, fund it with 19.15 BTC and 83 ETH, and, well, give it back to Siboni.

Siboni Turned into “an Extremely Wealthy Man”

Commenting on the matter was also a senior official, who said that “this wallet was worth about a million shekels about seven years ago. Since then, currency prices have risen dramatically, and the state will pay dearly for the negligence of an elite police unit.”

This is one of the most serious failures we’ve had, and the saddest thing – no one is taking responsibility.”

Siboni, who is a convicted gambling offender has been turned into an “extremely wealthy man,” concluded the official.

A Gambling Offender

To provide a bit of context on the profile of Siboni – he’s considered a major target when it comes to illegal gambling as part of the Lahav 433 Unit’s investiagtions.

During the two World Cups – the one in 2014 in Brazil and the one in 2018 in Russia – Siboni operated illegal betting lines for thousands of gamblers.

Suspicions place his profits to the tune of more than 100 million shekels. These were used to purchase luxury cars, apartments and other assets. The hard truth, however, is that the state had difficulty proving that the money came from criminal activity, so the majority of his property (including the crypto wallet) was returned to him.

SPECIAL OFFER (Sponsored)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

]]>
https://earlybirdsinvest.com/israel-will-buy-btc-and-eth-and-give-it-to-a-gambling-offender/feed/ 0 44595
Iran and Israel spent over $25B during the ’12-day war,’ equivalent to 1% of total Bitcoin supply https://earlybirdsinvest.com/iran-and-israel-spent-over-25b-during-the-12-day-war-equivalent-to-1-of-total-bitcoin-supply/ https://earlybirdsinvest.com/iran-and-israel-spent-over-25b-during-the-12-day-war-equivalent-to-1-of-total-bitcoin-supply/#respond Thu, 26 Jun 2025 02:04:29 +0000 https://earlybirdsinvest.com/iran-and-israel-spent-over-25b-during-the-12-day-war-equivalent-to-1-of-total-bitcoin-supply/

The Iran-Israel conflict reportedly cost the two nations roughly $25.5 billion, worth over 240,837 BTC at current prices, according to a report by Opportunity Cost, a digital tool that translates global spending into Bitcoin and Satoshi equivalents.

According to the platform, Israel fired Arrow interceptor missiles, each costing around $3 million or 28.3 BTC, to counter Iranian missiles priced at about $2 million or 18.9 BTC each. This exchange repeated every night for nearly two weeks, during which time Israel launched 50 to 100 of these high-tech interceptors.

On the other hand, Iran’s approach focused on volume, deploying over 400 ballistic missiles and more than 1,000 drones. The cost of its offensive weaponry alone amounted to approximately 7,554 BTC.

Meanwhile, Israel spent at least 2,124 BTC on Arrow interceptors, which is just one component of its broader missile defense strategy.

The US also took part in the conflict through an airstrike campaign called “Midnight Hammer.” The mission involved deploying seven stealth bombers that dropped bunker-busting munitions, each strike estimated at 30.2 BTC or $3.2 million. That single night added roughly 9,400 BTC to the overall cost of the standoff.

By the end of the conflict, the three nations had spent resources equivalent in value to roughly 1% of Bitcoin’s total supply, 240,837 BTC.

]]>
https://earlybirdsinvest.com/iran-and-israel-spent-over-25b-during-the-12-day-war-equivalent-to-1-of-total-bitcoin-supply/feed/ 0 44138
Bitcoin holds steady at $105k despite escalating tensions between Iran, Israel https://earlybirdsinvest.com/bitcoin-holds-steady-at-105k-despite-escalating-tensions-between-iran-israel/ https://earlybirdsinvest.com/bitcoin-holds-steady-at-105k-despite-escalating-tensions-between-iran-israel/#respond Sat, 14 Jun 2025 01:59:56 +0000 https://earlybirdsinvest.com/bitcoin-holds-steady-at-105k-despite-escalating-tensions-between-iran-israel/

Bitcoin (BTC) remained near the $105,000 mark on June 13, a sign of relative resilience following a sharp dip triggered by escalating conflict between Israel and Iran.

As of press time, Bitcoin was trading at $105,600, having recovered the previous night’s pullback to end the day down 0.11% over the past 24 hours.

The turbulence followed Israeli airstrikes on Iranian nuclear and military sites a day ago, prompting Iran to respond with drone and missilie attacks on June 13. This regional escalation sparked volatility across global markets.

The initial news of Israel’s attack caused significant volatility in global markets, causing Bitcoin to plunge roughly 5% after market hours, with lows near $102,000, before recovering above $104,000 as Asian markets opened for trading on June 13.

The flagship crypto spend the US trading session bound to a tight price range between $104,500 and $105,600 despite a significant slide in traditional equity markets as investors flocked toward traditional safe havens, causing gold to climb more than 1%, while the U.S. dollar, Japanese yen, and Swiss franc gained ground.

Despite the initial shock, Bitcoin’s rebound indicates prices are being buoyed by broader positive trends in the crypto market. Some believe the resilience following the initial crash reflects an “80% rally setup” pattern similar to that seen during the October 2024 Iran‑Israel escalation.

Markets seem to be taking a wait-and-see approach amid lingering uncertainty. With Brent crude surging nearly 8% over worries about Middle East supply disruptions, the broader risk environment remains elevated

Oil’s move could dampen investor sentiment, though its impact on monetary policy, particularly Federal Reserve decisions, may lend indirect support to risk assets like Bitcoin as markets reassess interest-rate paths .

While Bitcoin’s brief slump during the previous night highlights its sensitivity to global risk sentiment, its ability to rebound and hover around $105,000 throughout the trading session despite increased uncertainty reflects narratives of institutional backing, macroeconomic tailwinds, and historical price patterns.

Bitcoin Market Data

At the time of press 11:50 pm UTC on Jun. 13, 2025, Bitcoin is ranked #1 by market cap and the price is down 0.25% over the past 24 hours. Bitcoin has a market capitalization of $2.1 trillion with a 24-hour trading volume of $69.73 billion. Learn more about Bitcoin ›

Crypto Market Summary

At the time of press 11:50 pm UTC on Jun. 13, 2025, the total crypto market is valued at at $3.29 trillion with a 24-hour volume of $167.47 billion. Bitcoin dominance is currently at 63.87%. Learn more about the crypto market ›

]]>
https://earlybirdsinvest.com/bitcoin-holds-steady-at-105k-despite-escalating-tensions-between-iran-israel/feed/ 0 41893
Israel arrests new suspect behind Nomad Bridge $190M crypto hack https://earlybirdsinvest.com/israel-arrests-new-suspect-behind-nomad-bridge-190m-crypto-hack/ https://earlybirdsinvest.com/israel-arrests-new-suspect-behind-nomad-bridge-190m-crypto-hack/#respond Mon, 19 May 2025 13:39:24 +0000 https://earlybirdsinvest.com/israel-arrests-new-suspect-behind-nomad-bridge-190m-crypto-hack/

Israel arrests new suspect behind Nomad Bridge $190M crypto hack

An American-Israeli national named Alexander Gurevich has been arrested in Israel for his alleged involvement in exploiting the Nomad bridge smart-contract in August 2022 that allowed hackers to siphon $190 million.

Blockchain intelligence platform TRM Labs supplied key information to international law enforcement authorities, leading to the identification of Gorevich, who is believed to have played a central role in what is one of the largest hacks in DeFi history.

“The suspect, American-Israeli dual national Alexander Gurevich, was arrested in Jerusalem by Israeli police working in coordination with the DOJ, the FBI, and Interpol,” explained TRM Labs.

According to the blockchain intelligence firm, Gurevich will soon be extradited to the United States as the legal procedures have already been approved.

Gurevich’s links to Nomad Bridge hack

The Nomad bridge is a cross-chain communication standard that allows users to transfer assets between different blockchains.

On August 1, 2022, attackers exploited a critical vulnerability introduced in an update to its Replica smart contract, specifically in the ‘process() function.’

Though the contract was supposed to verify message proofs before releasing funds, a misconfiguration allowed any message with a correct root hash to be accepted, even if the underlying proof was invalid.

Once a single attacker figured out the flaw, the exploit method was quickly picked up by hundreds of other wallets, as it consisted in simply copy-pasting a specific transaction format.

This “mob-style” attack led to a chaotic and decentralized looting of the bridge, draining over $190 million in ETH, USDC, WBTC, and ERC-20 tokens.

Overview of the exploit process
Overview of the attack at Nomad Bridge
Source: TRM Labs

TRM Labs comments that the vulnerability was very easy to leverage, so even people with no hacking skills or deep blockchain knowledge joined in the exploitation. However, experienced North Korean actors were also implicated.

Alexander Gurevich is not believed to have written or initiated the exploit code itself, but TRM Labs says he “played a central role,” and evidence suggests he conspired with others to launder large amounts of funds stolen during the exploit.

Wallets linked to Gurevich received stolen assets within hours of the bridge being drained, suggesting close coordination with early attackers.

TMR Labs’ data shows that Gurevich used ‘chain-hopping’ to move the stolen tokens across various blockchains, the Tornado Cash mixer to obfuscate the origin of the funds, and swapped ETH into the privacy-boosting Monero (XMR) and Dash.

Morrell's laundering process
Gurevich’s money laundering process
Source: TRM Labs

To cash out the proceeds, he used non-custodial exchanges, OTC brokers, and offshore bank accounts tied to fake or opaque legal entities, and also converted some crypto to fiat through providers with no KYC standards.

Despite all the obfuscation efforts and the time that has passed since these events, blockchain transaction analysis still yielded enough clues to uncover Gurevich’s identity, resulting in his arrest.

Gurevich’s arrest follows that of another suspected hacker, a Russian-Israeli citizen named Alexander Gurevich, who was caught on May 1st at the Ben Gurion airport in Tel Aviv using documents under a new name, Alexander Block, he had officially changed.

According to prosecutors, Gurevich exploited the Nomad bridge flaw and withdrew about $2.89 million in digital tokens. This was followed by others finding the issue and leveraging it to siphon assets.

Jerusalem Post reports that on August 4, 2022, Gurevich contacted Nomad’s Chief Technology Officer and admitted he had been probing Nomad for weaknesses, apologizing for the trouble and later demanding a $500,000 reward for identifying the vulnerability.

Update 5/17 – Article updated to replace Osei Morrell with Alexander Gurevich, following a corresponding correction at the source report by TRM Labs.

Red Report 2025

Based on an analysis of 14M malicious actions, discover the top 10 MITRE ATT&CK techniques behind 93% of attacks and how to defend against them.

]]>
https://earlybirdsinvest.com/israel-arrests-new-suspect-behind-nomad-bridge-190m-crypto-hack/feed/ 0 37101