Nobitex Hack Unmasks Months of Hidden Bitcoin Movements

Global Ledger, a blockchain intelligence firm, has revealed that long before the recent $90 million hack on Iran’s top crypto exchange Nobitex, the platform had been routinely shifting user funds using patterns typically linked to money laundering operations. According to Global Ledger’s investigation, on-chain data shows that the crypto exchange employed a method called peel chaining. This involves breaking large sums of cryptocurrency into smaller, hard-to-trace transactions through a series of wallet transfers. Each transfer peels off a portion of the funds, sending the rest to a new address in a long chain of seemingly innocuous movements source: https://news.shib.io/2025/06/26/nobitex-hack-unmasks-months-of-hidden-bitcoin-movements/