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Amid Israeli airstrikes and cyberattacks, Iran’s banking and internet systems have virtually collapsed, plunging the country into a severe crisis. As residents flee major cities, the disruption has severely impacted Iranians both within the country and abroad, paralyzing financial and communication networks. A report by Iran International highlighted the situation.
According to the report, the hacker group ‘Predatory Sparrow’ claimed to have destroyed all data of Sepah Bank. As a result, ATMs across the country have failed to dispense cash, with many machines in Tehran and other provinces completely empty. Services at Melli, Pasargad, and Eqtesad-e Novin banks have also been disrupted. Citizens have complained that “even checking 10 ATMs yields no cash.”
Internet services are nearly non-functional. In Tehran and other cities, internet speeds are extremely slow, and connectivity is almost impossible in many areas. With services from providers like Irancell shut down, digital transactions have become unfeasible. Iranians abroad, particularly in Turkey, the UAE, and Europe, are unable to receive phone codes due to suspended roaming services, rendering cryptocurrency and online transactions impossible.
IT expert Sahar Tahvili stated, “Iran’s systems are unprepared for modern cyberattacks.” During wartime, cyberattacks target banking, transportation, energy, and communication systems to incapacitate a country. Iran’s Cyber Security Command has banned government officials from using public networks, likely to prevent targeted Israeli attacks, such as last year’s attack on Hezbollah’s pagers.
Iranians stranded abroad due to canceled flights are unable to return home. With the banking system down, they struggle to pay for hotel bills, food, or emergency expenses. Cryptocurrency platforms are also blocking Iranian transactions. The closure of digital transactions has led to the shutdown of gold shops and online gold trading platforms. Military personnel and government pensioners reliant on Sepah Bank are unable to access their monthly allowances.
Israel’s attacks and cyberattacks have pushed Iran’s economic and communication systems to the brink of collapse. Iranian authorities have placed the military and intelligence agencies on high alert to manage the crisis. However, analysts warn that new attacks or cyberattacks could further deteriorate the situation.
AI/MR
