$16.8 Million in Crypto Transactions Linked to Iran's Mabna Institute
The US Treasury has taken action against Iran's digital assets sector, specifically targeting Mabna Institute. Blockchain intelligence firm TRM Labs discovered $16.8 million in cryptocurrency transactions linked to members of Mabna Institute, including Bitcoin (BTC), Ethereum (ETH), and TRON (TRX) addresses. The majority of this total, $15.5 million, was received by Keyvan Fayaz's wallets, which represent 92% of the network's on-chain volume.
Fayaz controlled 10 out of the 30 designated addresses, with activity dating back to January 2018. Behzad Mesri, also accused of breaching HBO, showed layered transfers between his own wallets, eventually reaching a large centralized exchange. However, little value remains, with TRM estimating the residual balance across all 30 addresses at $202,662.
The Treasury's move follows a superseding indictment unsealed by the Department of Justice (DOJ) on August 18, alleging Mabna Institute ran cyber intrusions for the Islamic Revolutionary Guard Corps (IRGC). The Office of Foreign Assets Control (OFAC) designated nearly 60 Iran-linked targets on Monday, including digital assets. Secretary of the Treasury Scott Bessent stated, 'We are launching an economic onslaught against Iran's financial connections around the globe.'