A significant fraud scandal has rocked Iran’s cryptocurrency market, revealing the involvement of intelligence officers from the Islamic Revolutionary Guard Corps (IRGC). The investigation uncovered embezzlement of $21 million worth of digital assets, resulting in substantial financial losses for thousands of investors and raising concerns about regulatory integrity within the country. The scandal centers around Sina Estavi, CEO of Cryptoland, who was arrested in 2021 on charges related to disrupting the economic system. The investigation that began targeting financial misconduct soon spiraled into a complex scheme where intelligence officers themselves became perpetrators.