Israeli hackers steal $90m Iranian crypto – and 'burn' it

A group of pro-Israel hackers known as Predatory Sparrow targeted Iran's largest crypto exchange last Wednesday, stealing roughly $90m (£67m). Then they did something extraordinary: rather than keep the money, in effect they destroyed it. Blockchain analysis shows the $90m was transferred to wallets that can never be accessed because no one holds the keys.

- Patricia Clarke Technology reporter

As Israel orchestrates an attack on Iranian nuclear targets it may also be coordinating a campaign in cyberspace. Multiple sources told The Observer that the crypto exchange attack was the clearest sign yet that Predatory Sparrow, long rumoured to be backed by the Israeli military, is a state-sponsored group.

Cybersecurity researcher Costin Raiu said: “They could have very easily kept the $90m and used [it] to boost their operations. The fact that they burned [the money] to me is an indication that they have a separate budget... way bigger than $90m.”