Iran’s cryptocurrency infrastructure, reportedly linked to the Islamic Revolutionary Guard Corps (IRGC), remained operational during a nationwide internet blackout that followed the U.S.–Israeli strikes on February 28, 2025, according to a cyber intelligence report reviewed by Fox News Digital [1]. Omri Raiter, CEO of RAKIA, stated that his team detected a surge in funds leaving Iranian-linked crypto accounts in real time after the attacks, with tens of millions moving in the first hours and escalating to hundreds of millions and more [1].
Wallets associated with the IRGC reportedly received over $3 billion in cryptocurrency in 2025, based on blockchain intelligence data cited by RAKIA [1]. Additionally, Chainalysis estimated Iran’s cryptocurrency ecosystem reached $7.78 billion in activity for the year [1]. Raiter noted that Iran has developed a robust crypto-based financial infrastructure capable of functioning even under heavy sanctions and communication shutdowns [1].
The U.S. Department of the Treasury sanctioned cryptocurrency exchanges tied to Iranian actors on January 30, 2025, marking a shift from targeting individual wallets to entire digital asset platforms for sanctions evasion linked to the IRGC [1]. Treasury Secretary Scott Bessen emphasized that the Treasury will continue efforts to disrupt financial networks connected to Tehran, including attempts to use digital assets to circumvent sanctions [1].
RAKIA’s analysis suggests the surge in crypto flows reflects both funding for Iran’s regional proxy networks and personal capital flight by individuals connected to the regime, moving through the same financial pipelines [1]. Raiter indicated that some of the identified cryptocurrency flows were connected to networks previously associated with Iran-backed groups [1].
CONCLUSION
Iran’s ability to move hundreds of millions in cryptocurrency during an internet blackout highlights the resilience and sophistication of its crypto-based financial infrastructure. The U.S. Treasury’s recent sanctions targeting entire exchanges underscore the seriousness of efforts to curb Iran’s use of digital assets for sanctions evasion and proxy funding. This development signals significant market and geopolitical implications for the global cryptocurrency ecosystem.