Senior officers from Iran’s Revolutionary Guard have been accused of pilfering roughly $21 million in cryptocurrency whereas investigating a corruption case.
What Occurred: The alleged theft came about throughout a probe into Cryptoland, a digital change that was shuttered following the arrest of its CEO, Sina Estavi, in Might 2021, reported Iran Worldwide on Sunday.
Blockchain information confirmed that six billion BRG tokens, created by Estavi, had been transferred from his cryptocurrency pockets a day after his arrest, the report stated. These tokens had been allegedly offered off by officers of the Revolutionary Guard, producing tens of millions for themselves.
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Two key figures, Mehdi Hajipour and Mehdi Badi, senior interrogators within the Revolutionary Guard’s financial department, had been recognized by a court-appointed knowledgeable. The knowledgeable’s report confirmed that wallets managed by Hajipour offered over $21 million value of BRG tokens.
In March 2022, Hajipour was arrested by Revolutionary Guard counterintelligence brokers in a sting operation whereas accepting a $10,000 cost from Estavi, who believed he was shopping for again the stolen tokens from a 3rd occasion.
Iran’s Revolutionary Guards is a department of the Iranian armed forces tasked with defending the regime towards inside and exterior threats. Its media arm, Sepah Information, didn’t instantly return Benzinga’s request for remark.
Why It Issues: Iran introduced a cryptocurrency regulatory framework final 12 months, aiming to nullify the crippling sanctions which have drained its financial system because of a strained relationship with the West.
The initiative aimed to “eradicate unfavorable impacts whereas leveraging optimistic results” of digital currencies and align Iran’s actions with the worldwide financial system.
Based on a February research report revealed by blockchain evaluation agency Chainalysis, cryptocurrency outflows from Iranian exchanges, together with Bitcoin (CRYPTO: BTC), elevated throughout moments of heightened geopolitical volatility, implying that individuals had been using digital belongings as a hedge.
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