- The US seized $1 billion in Iranian crypto assets as part of Operation Economic Fury.
- Scott Bessent said authorities have directly seized control of crypto wallets linked to Iran.
US Treasury Secretary Scott Bessint announced that the United States has seized control of cryptocurrency wallets linked to the Iranian government, with assets valued at nearly $1 billion.
We confiscated their cryptocurrency worth about $1 billion. We simply took their wallets,” he said.
While sanctions previously primarily targeted banks, oil exports, and tangible assets, restrictions are now also being applied to cryptocurrency wallets. US authorities believe they are linked to sanctioned activities.
The confiscation of crypto assets was part of Operation Economic Fury, which began in March 2026. The campaign aimed to cut off Iran’s main financial channels, including by freezing bank accounts and other assets.
According to Bessent, the US is also working with its European allies to seize property (real estate and other assets) linked to Iranian funds. He said this money was “stolen from the Iranian people.”
The Iranian economy is under severe pressure due to the actions of the US government, the finance minister noted. Many Iranian military personnel are not being paid, police are not reporting for duty, inflation is extremely high, and the country has begun issuing food stamps.
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