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U.S. Treasury Secretary Scott Bessent said Washington has seized about $1 billion in cryptocurrency tied to Iran.
On May 29, Bessent made the claim as part of Operation Economic Fury, the economic arm of the U.S. campaign against Iran.
Bessent Says Iran Moved $400M to $500M Monthly
Bessent said U.S. authorities had taken control of crypto wallets linked to Iran. He described the action as part of a wider pressure campaign targeting bank accounts, overseas property and other revenue channels.
He also said Iranian officials had been moving $400 million to $500 million a month before U.S. intervention. Bessent tied the campaign to worsening economic conditions inside Iran.
Public Record Shows $344.2M USDT Freeze
The full $1 billion figure has not been publicly broken down by wallet, token type or legal status. The clearest publicly documented portion is the $344.2 million in USDT frozen in April after OFAC designated two wallets attributed to the Central Bank of Iran. TRM Labs said Tether coordinated with OFAC and U.S. law enforcement on that freeze.
TRM Labs linked the wallets to the IRGC-Qods Force and Hizballah. Chainalysis also cited the $344 million action and said a U.S. official linked the funds to Iran through transactions involving Iranian exchanges and intermediary addresses connected to Central Bank of Iran wallets.
More Than $600M Remains Publicly Undisclosed
The public record still accounts for only part of Bessent’s nearly $1 billion figure. More than $600 million has not been publicly identified by wallet, token or legal status.
Treasury, OFAC and law enforcement have not yet clarified how much of the total reflects direct seizure, sanctions-based blocking or issuer-level freezes. That breakdown will determine how much of the figure has been taken under government control and how much remains frozen through compliance actions.
