&imwidth=800&imheight=600&format=webp&quality=medium "Israel seizes crypto wallets linked to IRGC used for funnelling $1.5 billion")
Israel's Ministry of Defence announced the seizure of 187 crypto wallets worth $1.5 million. According to the Ministry's National Bureau for Counter Terror Financing (NBCTF), these accounts are linked to officials of the Iranian Islamic Revolutionary Guard Corps (IRGC). It said that it was sure that these accounts are "used for the perpetration of a severe terror crime.” The IRGC is designated a terrorist organisation in the United States, the United Kingdom and Israel.
These addresses have transmitted $1.5 billion in Tether's stablecoin USDT. Epileptic's Co-founder Tom Robinson has also said that they can not confirm if all of these wallets belong to the IRGC, and they only contain a fraction of the money that moved through them.
Previous IRGC crypto activity
The Blockchain tracking firm Elliptic had been tracking the IRGC's crypto-related activity for years. In June 2025, Pro-Israel stole over $90 million from the Iranian crypto exchange Nobitex. Nobitex had been used by the sanctioned IRGC operatives to funnel money for an alleged terrorist operation.
In December 2024, the US Treasury Department added wallets worth $332 million in USDT linked to Sa’id Ahmad Muhammad al-Jamal, who is accused of funnelling money to Houthi militant groups. Last Week, the US Justice Department seized $584,741 in USDTan Iranian national, Mohammad Abedini, who is allegedly responsible for the manufacture of navigation systems with the possibility of being used in the IRGC's military drone programme.
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What are the key issues?
The issue is the attribution of ownership. It is not yet proven publicly that all 187 accounts are directly connected to the IRGC. Some may be intermediary wallets used by third parties. The Israel Defence Ministry accused them of using “for the perpetration of a severe terror crime as defined by the law”, but did not specify what sort of activity or the trail of the funnelled money to those activities.
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