Iranian military officials allegedly stolen $21 million worth of cryptocurrency.
In a surprising turn of events, a conspiracy involving high-ranking officials of the Iranian Revolutionary Guard has come to light. The alleged mastermind behind the scheme is Ali Akbar Hosseine Mehrab, the former director of the Anti-Corruption Department of the Revolutionary Guard.
At the heart of the controversy is Sina Estavi, the CEO of the Cryptoland exchange, who was arrested in 2021 in Iran for 'disrupting the economic system'. In 2022, the Revolutionary Guards confiscated cryptocurrencies worth $21 million from Estavi, including six million BRG tokens.
Estavi was accused of various financial irregularities, including forging documents, selling non-existent goods, and defrauding customers of around $20 million. The leaked documents reveal that the confiscated BRG tokens were transferred to two Revolutionary Guard officers, Mehdi Hajipour and Mehdi Badi.
Mehdi Hajipour, who was arrested by the Revolutionary Guard's intelligence department in March 2022, is said to have spent large sums on real estate, gold, and luxury cars. He also attempted to extort $10,000 from Estavi by claiming he could buy the stolen tokens back cheaply.
Mehdi Badi, on the other hand, is accused of selling the confiscated BRG tokens, earning several tens of millions of dollars and causing the token's price to collapse. Two officers of the Iranian Revolutionary Guard associated with this sale are Mohsen Sharifi and Saeed Ghoreishi.
Bitcoin and other cryptocurrencies are partially legal in Iran, but banned as a means of payment. Estavi issued BRG tokens for Bridge.ai, an oracle service for Tron and BNB, which might have contributed to his legal troubles.
The price of BRG, likely Estavi's token, crashed around the date of the sale by the Revolutionary Guard officers. The conspiracy has raised concerns about the misuse of power and corruption within the Iranian government.
Sina Estavi managed to flee from Iran to France in 2023, escaping the ongoing investigation. The case is a stark reminder of the potential risks and pitfalls in the rapidly evolving world of cryptocurrencies, and the need for robust regulations and oversight.
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