Iran’s use of cryptocurrencies to send money overseas has significantly increased, with networks connected to the country’s Islamic Revolutionary Guard Corps (IRGC) responsible for over $3 billion in digital asset activity, according to recent research from blockchain analytics firm Chainalysis.
The findings are based on Chainalysis’ 2026 Crypto Crime Report, which revealed a sharp rise in illicit cryptocurrency activity globally. According to the study, wallets associated with illegal activities received at least $154 billion in digital assets in 2025—a 162% increase from the year before.
One of the biggest donors to this effort was Iran. According to Chainalysis, almost half of all bitcoin movements associated with Iranian businesses in the fourth quarter of 2025 were from addresses tied to the IRGC.
According to reports, the money was used to buy equipment that could be used for both military and civilian reasons, strengthen local militia networks, and expedite oil sales.
Geopolitical concerns have also affected the cryptocurrency market. In reaction to reports of coordinated US and Israeli attacks on Iranian websites this weekend, blockchain data showed that more than $10 million worth of cryptocurrencies was swiftly pulled from Iranian markets.
Following early reports of the conflict, Bitcoin momentarily fell to roughly $63,100 before rebounding once more. The price later increased to about $74,000 before settling at about $71,000 as markets reacted to the changing conditions.
Iran’s entire cryptocurrency market was projected to be worth $7.48 billion in 2025, according to Chainalysis.
Growing illegal cryptocurrency activities in other areas was also noted in the report. While Venezuela has witnessed considerable cryptocurrency adoption as people try to safeguard their funds from hyperinflation, Russia has processed significant amounts of transactions through stablecoins backed by rubles.
In the meantime, it has been claimed that in 2025 alone, North Korean hackers stole cryptocurrency valued at over $2 billion.
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