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$21 Million Crypto Heist: Iran’s Top Officers Accused in Shocking Theft

Key Takeaways

  • ​IRGC agents are accused of stealing $21 million in crypto during a probe into the defunct exchange Cryptoland;
  • Mehdi Hajipour allegedly moved millions in BRG tokens, raising his wealth from $40,000 to over $14 million;
  • The scheme involved fake identities, forged documents, and at least six individuals linked to the IRGC.

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$21 Million Crypto Heist: Iran’s Top Officers Accused in Shocking Theft

Members of the Islamic Revolutionary Guard Corps (IRGC) are accused of quietly taking over $21 million worth of cryptocurrencies while looking into wrongdoing at Cryptoland, a now-closed crypto exchange.

The situation began when Sina Estavi, Cryptoland’s CEO, was arrested in 2021 on charges of harming Iran’s financial system. This led to the shutdown of the exchange and left over 51,000 users without access to their funds.

Later, agents from the IRGC’s intelligence and economic crimes units were given control of the seized assets. But instead of protecting the funds, several of them allegedly moved tokens to wallets under their control and sold them.

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Iran International, a Persian-language satellite television channel, named Mehdi Hajipour and Mehdi Badi as central figures in the scheme. Hajipour was found to have moved millions in BRG tokens, the platform’s native coin. Reports say his personal wealth jumped from around $40,000 to over $14 million within four months.

The situation became more serious when Hajipour was caught taking a $10,000 payment from Estavi. Estavi thought he was buying back some of the stolen tokens through a third party, but the buyer was Hajipour using a fake identity.

Two more IRGC members, Majid Jahan Parto and Majid Tabatabaei, were linked to the scheme. Four others are accused of creating fake documents to cover up the transactions. Badi, one of the main suspects, is also related to a former high-ranking IRGC official.

Meanwhile, the Department of Justice (DOJ) seized $201,400 in cryptocurrency tied to Hamas on March 27. How? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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