Senior officers from Iran’s Revolutionary Guard Corps (IRGC) have been accused of embezzling $21 million in cryptocurrency during an investigation into corruption at the now-defunct Cryptoland exchange. The allegations center on the actions of Mehdi Hajipour and Mehdi Badi, senior interrogators in the IRGC’s economic intelligence branch, who reportedly diverted funds from Cryptoland’s CEO Sina Estavi following his arrest in May 2021.
Blockchain records reveal that six billion BRG tokens, Cryptoland’s native cryptocurrency, were transferred from Estavi’s wallet a day after his arrest.
These tokens were allegedly sold off by IRGC officers, generating millions of dollars in personal profit. Estavi, who gained international attention for purchasing Jack Dorsey’s first tweet as an NFT, was charged with disrupting Iran’s economic system and sentenced to 15 years in prison.
Hajipour’s financial transformation was stark. Before the scheme, his assets were valued at approximately $40,000. Within four months, his wealth ballooned to over $14.2 million, which he reportedly spent on gold, luxury vehicles, and premium real estate.
He was arrested in March 2022 during a sting operation after accepting a $10,000 bribe from Estavi, who believed he was repurchasing stolen tokens from a third party—a fabricated identity created by Hajipour.
The investigation uncovered a broader network of IRGC personnel involved in the scheme, including Majid Jahan Parto and Majid Tabatabaei, who allegedly assisted in forging documents to legitimize the illicit transactions. The case has raised concerns about corruption within the IRGC’s intelligence organization, which is tasked with defending Iran’s regime against internal and external threats.
Shogun Lin
