Iran’s Electric Infrastructure May Be Under Attack Today But It Was Already Crumbling — One Of The Culprits May Have Been Bitcoin
Israel has attacked Iran’s energy infrastructure in a bid to cripple the economic foundations of the Middle Eastern country in the ongoing military conflict.
However, Iran’s energy woes are not new. The domestic energy sector has been struggling and the regime’s cryptocurrency endeavors may have contributed to the problem.
What Happened: Iran pivoted to Bitcoin (CRYPTO: BTC) mining as a tool to bypass sanctions that have impacted its economy and curtailed access to international finance. It also signaled plans to regulate cryptocurrency, aiming to “eliminate negative impacts while leveraging positive effects” of digital currencies.
But what began as a state-sanctioned workaround for sanctions has “mutated into a security vulnerability,” said the Middle East Forum, a conservative think tank that …
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