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Senior officers from Iran\u2019s Revolutionary Guard have been accused of pilfering approximately\u00a0$21 million in cryptocurrency while\u00a0investigating a corruption case.<\/p>\n
What Happened<\/strong>: The alleged theft took place during a probe into Cryptoland, a digital exchange that was shuttered following the\u00a0arrest of its CEO, Sina\u00a0Estavi,<\/strong> in May 2021, reported Iran International on Sunday.<\/p>\n Blockchain records showed that six billion BRG tokens, created by Estavi, were transferred from his cryptocurrency wallet\u00a0a day after his\u00a0arrest, the report said. These tokens were allegedly sold off by officers of the Revolutionary Guard, generating\u00a0millions for themselves.<\/p>\n See Also: \u2018Scrolling To UBI’ \u2014 Deloitte’s #1 fastest-growing software company allows users to earn money on their phones. <\/strong>You can invest today for just $0.26\/share with a $1000 minimum.<\/strong><\/a><\/em><\/strong><\/p>\n Two key figures,\u00a0Mehdi Hajipour<\/strong> and Mehdi Badi,<\/strong>\u00a0senior interrogators in the Revolutionary Guard\u2019s economic branch, were identified by a court-appointed expert. The expert\u2019s report confirmed\u00a0that wallets controlled by Hajipour\u00a0sold over $21 million worth of\u00a0BRG tokens.<\/p>\n In March 2022, Hajipour was arrested by Revolutionary Guard counterintelligence agents in a sting operation while\u00a0accepting a $10,000 payment from\u00a0Estavi, who believed\u00a0he was buying back the\u00a0stolen tokens from a third\u00a0party.<\/p>\n Iran\u2019s Revolutionary Guards is a branch of the Iranian armed forces tasked with defending the regime against internal and external threats. Its media arm, Sepah News, didn\u2019t immediately return Benzinga\u2019s request for comment.<\/p>\n Why It Matters<\/strong>: Iran announced a cryptocurrency regulatory framework last year, aiming to nullify the crippling sanctions that have drained its economy as a result of a strained relationship with the West.<\/p>\n The initiative aimed to “eliminate negative impacts while leveraging positive effects” of digital currencies and align Iran\u2019s activities with the global economy.<\/p>\n According to a February research<\/a> report published by blockchain analysis firm Chainalysis, cryptocurrency outflows from Iranian exchanges, including Bitcoin <\/strong>(CRYPTO: BTC<\/a>), increased during moments of heightened geopolitical volatility, implying that people were utilizing digital assets as a hedge.<\/p>\n Read Next:<\/strong>\u00a0<\/em><\/p>\n<\/p><\/div>\n