A suspected insider group profited over $1.2 million betting on U.S. and Israeli strikes against Iran before they occurred, according to blockchain analysis. The military actions triggered immediatebut temporary volatility across cryptocurrency markets, sending Bitcoin briefly below $63,000.
Six wallets were identified making coordinated bets on a U.S. strike against Iran hours before the event. Most of these wallets were funded within the 24 hours preceding the attacks and specifically placed “yes” bets for February 28.
The precision of these actions suggests the parties involved had prior knowledge of the planned military operations. These operations included Israeli-initiated strikes against Iran and subsequent confirmation from U.S. President Donald Trump that his country was also involved.
President Trump later categorized the attacks as a “major combat operation.” In response, Iran retaliated by targeting several U.S. allies in the Gulf region, including Kuwait, the UAE, Qatar, and Bahrain.
The news caused an immediate drop in cryptocurrency prices. Bitcoin fell from $66,000 to $63,000 within minutes of the initial reports.
Most alternative cryptocurrencies followed suit with rapid declines of 2-4%. Bitcoin has since recovered a portion of its losses, trading closer to $65,000.
