tldr; Iran’s Islamic Revolutionary Guard Corps (IRGC) reportedly moved hundreds of millions of dollars in cryptocurrency during a nationwide internet blackout following U.S.–Israeli strikes, according to a cyber intelligence report. Despite the blackout, over 1,100 active crypto nodes operated in Iran, suggesting specialized infrastructure exempt from shutdowns. The funds were linked to proxy war financing and personal wealth protection. The U.S. Treasury has sanctioned Iranian crypto exchanges to counter such activities.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
fan_of_hakiksexydays on
The good news is crypto is proving once again to still work and be quiet the useful tool when you’re in a jam.
The bad news is there’s potentially billions in crypto that could hit the market and be sold by Iran’s recipients, unless they’re ready to hodl through potentially a couple years of bear market.
3 Comments
tldr; Iran’s Islamic Revolutionary Guard Corps (IRGC) reportedly moved hundreds of millions of dollars in cryptocurrency during a nationwide internet blackout following U.S.–Israeli strikes, according to a cyber intelligence report. Despite the blackout, over 1,100 active crypto nodes operated in Iran, suggesting specialized infrastructure exempt from shutdowns. The funds were linked to proxy war financing and personal wealth protection. The U.S. Treasury has sanctioned Iranian crypto exchanges to counter such activities.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
The good news is crypto is proving once again to still work and be quiet the useful tool when you’re in a jam.
The bad news is there’s potentially billions in crypto that could hit the market and be sold by Iran’s recipients, unless they’re ready to hodl through potentially a couple years of bear market.
Of course they did. 🖕 Bitcoin