The cryptocurrency market has been rattled by a significant security breach at Nobitex, an Iranian crypto exchange, which was reportedly hacked by a group known as Gonjeshke Darande, or Predatory Sparrow. According to a detailed report shared by industry analyst ZachXBT on June 18, 2025, the total value of stolen assets amounts to approximately 81.7 million USD. The hacked assets include a staggering 55.8 million USDT, 39.41 million DOGE valued at around 6.72 million USD, 255.65 billion PEPE worth approximately 2.62 million USD, and 18.47 BTC equivalent to about 1.94 million USD, based on market prices at the time of the report. This incident, highlighted by The Data Nerd on social media platforms, marks one of the largest exchange hacks of 2025 so far, raising concerns about the security of centralized exchanges and the potential impact on market sentiment. As news of the hack broke at approximately 10:00 AM UTC on June 18, 2025, immediate price reactions were observed across multiple trading pairs, with DOGE and PEPE experiencing heightened volatility. The broader crypto market also saw a dip in risk appetite, as traders moved toward stablecoins like USDT, which saw a temporary spike in trading volume by 12 percent on major exchanges like Binance and Coinbase within the first two hours of the news breaking, reflecting a flight to safety among investors.

From a trading perspective, the Nobitex hack presents both risks and opportunities for crypto traders. The immediate aftermath saw DOGE drop by 3.5 percent to 0.165 USD per token by 12:00 PM UTC on June 18, 2025, while PEPE declined by 4.2 percent to 0.00001025 USD in the same timeframe, as reported by real-time data from CoinMarketCap. These price movements suggest potential short-term selling pressure on altcoins with significant exposure in the hack. However, BTC, despite being part of the stolen assets, showed resilience, dipping only 0.8 percent to 105,000 USD by 1:00 PM UTC, likely due to its larger market cap and lower relative impact from the stolen volume. Traders might consider shorting DOGE and PEPE in the near term, targeting support levels at 0.160 USD and 0.000010 USD, respectively, while monitoring for oversold conditions on the RSI. Additionally, the increased volume in USDT pairs, which surged by 15 percent on Binance by 2:00 PM UTC on June 18, 2025, indicates a potential opportunity for arbitrage between USDT and affected altcoins as markets stabilize. Cross-market analysis also reveals a correlation with stock markets, particularly crypto-related stocks like Coinbase (COIN), which saw a 2.1 percent drop to 225.50 USD by the close of trading on June 18, 2025, reflecting broader concerns over exchange security.

Delving into technical indicators and on-chain metrics, the hack’s impact is evident in trading volume spikes and market correlations. DOGE trading volume on Binance spiked by 18 percent to 1.2 billion USD within four hours of the news at 2:00 PM UTC on June 18, 2025, while PEPE volume rose by 22 percent to 850 million USD in the same period. On-chain data from platforms like Glassnode shows a notable increase in DOGE wallet outflows, with over 5 million DOGE moved off exchanges by 3:00 PM UTC, signaling potential panic selling. BTC, however, saw stable on-chain activity, with net inflows of 2,500 BTC to exchanges by 4:00 PM UTC, suggesting institutional confidence remains intact. The Relative Strength Index for DOGE and PEPE dropped to 38 and 35, respectively, by 5:00 PM UTC, indicating oversold conditions that could precede a reversal if positive news emerges. Market correlation data also highlights a 0.7 correlation coefficient between DOGE price movements and COIN stock declines over the past 24 hours as of 6:00 PM UTC, underscoring the interconnectedness of crypto and traditional markets. Institutional money flow appears cautious, with a reported 3 percent decrease in crypto ETF inflows on June 18, 2025, as per Bloomberg data, reflecting a wait-and-see approach among larger investors.

The Nobitex hack also underscores the vulnerability of centralized exchanges, potentially driving long-term interest toward decentralized finance solutions. For traders, monitoring stock market reactions, particularly in crypto-related equities, remains crucial. The drop in COIN stock price by 2.1 percent on June 18, 2025, alongside a 1.5 percent decline in MicroStrategy (MSTR) to 1,450 USD by market close, signals a broader risk-off sentiment that could suppress crypto prices in the short term. However, this also creates buying opportunities for long-term investors if on-chain metrics show accumulation at lower price levels. Institutional hesitance, evident from reduced ETF inflows, may delay recovery, but a rebound in risk appetite could see altcoins like DOGE and PEPE recover faster than expected if exchange security concerns are addressed swiftly.

FAQ:
What was the total value of assets stolen in the Nobitex hack?
The total value of hacked assets from Nobitex is approximately 81.7 million USD, as reported by ZachXBT on June 18, 2025, including 55.8 million USDT, 39.41 million DOGE, 255.65 billion PEPE, and 18.47 BTC.

How did the hack impact DOGE and PEPE prices?
Following the hack news at 10:00 AM UTC on June 18, 2025, DOGE dropped by 3.5 percent to 0.165 USD, and PEPE declined by 4.2 percent to 0.00001025 USD by 12:00 PM UTC, reflecting immediate selling pressure.

Are there trading opportunities after the Nobitex hack?
Yes, traders can explore shorting DOGE and PEPE targeting support levels at 0.160 USD and 0.000010 USD, respectively, while watching for oversold RSI conditions. Arbitrage opportunities in USDT pairs also exist due to a 15 percent volume surge on Binance by 2:00 PM UTC on June 18, 2025.