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      Mabna Institute Linked to $16.8 Million in Cryptocurrency Transactions Since 2018

      An analysis by TRM Labs has revealed that the Mabna Institute, an Iranian hacking organization, has moved approximately $16.8 million through various cryptocurrency addresses since 2018. The investigation focused on 30 addresses associated with defendants linked to the group, which has been accused of stealing intellectual property for the Islamic Revolutionary Guard Corps (IRGC). The funds were transferred across major cryptocurrencies including Bitcoin, Ethereum, and TRON.

      Keyvan Fayaz, one of the defendants, was found to control ten of the examined addresses, which accounted for about $15.5 million, or 92% of the total inflows. Another defendant, Behzad Mesri, was involved in complex transactions that led to deposits at centralized exchanges. At the time of the analysis, only $202,662 remained across all addresses, indicating that most of the funds had already been moved or spent.

      The Mabna Institute, founded around 2013, has been implicated in numerous cyber intrusions, including breaches at 144 U.S. universities and 178 foreign institutions, resulting in the theft of over 31 terabytes of data. The U.S. Department of Justice has indicted 17 individuals connected to the group, with five recently sanctioned under Operation Economic Outcast, which targets entities engaging in significant cryptocurrency activities related to Iran. This case highlights the risks associated with cryptocurrency transactions linked to state-sponsored cyber activities and the regulatory scrutiny that follows.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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