Treasury Says US Seized $500M in Iran-Linked Crypto Assets

TLDR

• The United States seized nearly $500 million in crypto assets linked to Iran through enforcement actions.

• Treasury Secretary Scott Bessent confirmed the seizures during a televised interview on Fox Business.

  

• Authorities expanded Operation Economic Fury to target bank accounts and overseas assets tied to Iranian officials.

• The Office of Foreign Assets Control sanctioned multiple crypto wallets connected to Iran’s financial networks.

• Tether froze over $344 million in USDT after receiving requests from US authorities.

US authorities have seized nearly $500 million linked to Iran through digital holdings and enforcement actions. Treasury Secretary Scott Bessent confirmed the figure during a televised interview on Wednesday. He said the campaign targets financial networks tied to Tehran through sanctions and asset restrictions.

US Targets Crypto Assets Tied to Iran Through Enforcement Campaign

Bessent outlined the scope of Operation Economic Fury during his appearance on Fox Business. He said the campaign began in March 2025 under orders from President Donald Trump. He stated, “We are freezing bank accounts everywhere, and we are discouraging dealings with the regime.”

He explained that authorities have also pursued overseas real estate and retirement funds linked to Iranian officials. He added that officials focus on weakening financial access channels connected to the government. He said these measures aim to limit Iran’s ability to conduct international transactions.

The Treasury Department reported that earlier disclosures listed $344 million in seized crypto assets. However, the updated figure now reaches nearly $500 million following expanded enforcement actions. Bessent confirmed that regulators identified additional wallets connected to Iranian financial networks.

The Office of Foreign Assets Control sanctioned multiple crypto addresses tied to Iran. Stablecoin issuer Tether confirmed it froze more than $344 million in USDt holdings. The company acted following requests from US authorities as part of the enforcement effort.

Sanctions Expand Across Banking, Shipping, and Defense Supply Chains

Authorities increased pressure by targeting Iran’s financial and industrial networks through coordinated sanctions. On Tuesday, officials sanctioned 35 individuals and entities linked to a shadow banking system. These measures focused on limiting access to foreign currency and financial services.

Separately, the Treasury targeted a Chinese refinery accused of processing Iranian oil shipments. Officials also sanctioned about 40 shipping companies connected to Iran’s shadow fleet operations. These vessels reportedly transport crude oil to buyers in China and other regions.

Bessent said the campaign has affected Iran’s domestic economy and financial stability. He stated that one of Iran’s largest banks collapsed in December. He added that the national currency lost between 60% and 70% of its value against the dollar.

Authorities also targeted Iran’s weapons supply chain through coordinated sanctions. Officials sanctioned 14 individuals and entities linked to missile and drone components procurement. These measures included restrictions on materials used for Shahed drones and ballistic fuel systems.

Since February 2025, regulators have sanctioned over 1,000 Iran-related individuals, vessels, and aircraft. These actions form part of Operation Economic Fury’s broader enforcement structure. Officials continue to expand restrictions across sectors tied to Iran’s global activities.

Reports indicated that Iran considered charging ships Bitcoin tolls through the Strait of Hormuz. Sources suggested empty tankers would pass freely, while loaded vessels would face fees. Officials have not publicly confirmed these claims regarding digital payment collection.

A maritime risk firm warned about fraudulent actors impersonating Iranian authorities in shipping communications. These actors demanded payments in Bitcoin or USDt from shipowners seeking clearance. The warnings followed reports of increasing scams targeting vessels in the region.

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