US Seizes Nearly $1B in Iranian Crypto Amid Economic Pressure Campaign

TheNewsCryptoPublished on 2026-05-30Last updated on 2026-05-30

Abstract

The United States has seized nearly $1 billion worth of Iranian cryptocurrency, Treasury Secretary Scott Bessent announced. He noted some wallet owners may be unaware their funds were confiscated. The action is part of "Operation Economic Fury," a U.S. financial pressure campaign against Iran launched in March 2025, which has also involved freezing bank accounts and seizing properties with European partners. Bessent stated that prior to U.S. intervention, the Iranian regime was allegedly diverting hundreds of millions monthly to a small elite. He described Iran's economy as severely strained, with food rationing, internet outages, and many military personnel going unpaid. The $1 billion seizure figure marks a significant increase from previous totals reported in April.

On Friday, Treasury Secretary Scott Bessent said that the US has confiscated around $1 billion worth of Iranian cryptocurrency. He also mentioned that some of the wallet owners may not even be aware that their funds has been confiscated. “I believe that we have seized about a billion dollars of their crypto”, Bessent said during his speech at the Reagan National Economic Forum.

According to Bessent, the seizures are a component of Operation Economic Fury, the United States’ strategy to put financial pressure on Iran. The operation, which began in March 2025 and has since seized crypto, frozen bank accounts, and collaborated with European partners to confiscate properties, has targeted Iranian assets on numerous fronts.

Intensifying Financial Pressure

Before the United States interfered, the regime was allegedly stealing $400–$500 million per month and distributing the money around 80 or so elites, according to the Treasury secretary.

According to him, the Iranian economy is in shambles, with food coupons being handed out, the internet down, and 40 to 50% of the Iranian military being unpaid. Regarding the current talks with Iran, Bessent said that it is difficult to work with a divided leadership structure because of the attacks on key regime members by the US and Israel.

The newly revealed $1 billion figure is significantly higher than the $344 million in cryptocurrency that was frozen after the US Office of Foreign Assets Control sanctioned Iran-linked wallets on April 24. It is also approximately twice as much as the $500 million in Iranian cryptocurrency assets that the Treasury Department announced it had seized in late April.

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Related Questions

QWhat is the total value of Iranian cryptocurrency that US Treasury Secretary Scott Bessent claims has been seized?

AUS Treasury Secretary Scott Bessent claims that the US has seized about $1 billion worth of Iranian cryptocurrency.

QWhat is the name of the US operation under which these cryptocurrency seizures took place?

AThe seizures are a component of Operation Economic Fury, the United States' strategy to put financial pressure on Iran.

QAccording to the Treasury Secretary, what was the Iranian regime allegedly doing with $400-$500 million per month before US intervention?

AAccording to the Treasury Secretary, the Iranian regime was allegedly stealing $400-$500 million per month and distributing the money to around 80 elites.

QHow does the newly revealed $1 billion seizure figure compare to previous amounts reported?

AThe $1 billion figure is significantly higher than the $344 million frozen in late April and is approximately twice as much as the $500 million in Iranian crypto assets the Treasury Department announced seizing in late April.

QWhat reasons did Bessent give for the difficulty in current talks with Iran?

ABessent said it is difficult to work with Iran's divided leadership structure due to attacks on key regime members by the US and Israel.

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