A large-scale cryptocurrency embezzlement case has just been uncovered in Iran, as two senior officials from the Islamic Revolutionary Guard Corps (IRGC) are accused of stealing over 21 million USD from the seized assets of the Cryptoland exchange.
The Cryptoland exchange collapsed after CEO Sina Estavi was arrested in May 2021. Initially, the case had no whistleblowers, but later over 51,000 investors filed complaints. Just one day after Estavi was arrested, 6 billion BRG tokens were withdrawn from his wallet—an unusual move before the public became aware of the scandal.
Under the guise of an anti-corruption investigation, Mehdi Hajipour and Mehdi Badi—two senior interrogators of the IRGC—secretly transferred a large amount of BRG tokens into personal wallets and then sold them for profit. On-chain data confirms that Hajipour's wallets traded this enormous amount.
By March 2022, Hajipour was arrested in a raid while receiving 10,000 USD from Estavi, who was deceived into thinking he was buying back tokens from a third party—actually a false identity created by Hajipour.
This scandal has not only sparked a wave of outrage but also raised significant questions about transparency in the management of cryptocurrency assets. It highlights the serious risks when financial investigations are exploited for personal gain, while emphasizing the urgent need for tighter oversight mechanisms in the crypto industry.
#crypto #Cryptoland