US Seizes Iranian-Linked Cryptocurrency

The United States has seized cryptocurrency assets linked to Iran with a total value approaching $1 billion. The announcement was made by U.S. Treasury Secretary Scott Bessent during the Reagan National Economic Forum.

According to Bessent, the operation is part of Washington’s broader campaign to disrupt the financial networks supporting the Iranian government. The goal is to cut off resources used by Tehran to evade international sanctions and fund state activities.

As part of an initiative known as Operation Economic Fury, the U.S. Treasury Department has imposed sanctions on more than 1,000 entities connected to Iran. While traditional measures have focused on freezing bank accounts and restricting financial institutions, authorities are increasingly targeting cryptocurrency holdings as well.

One of the largest actions involved the freezing of $344 million worth of USDT by Tether. The funds were held across two addresses on the Tron network and were blocked following an investigation by Chainalysis, which reportedly identified links between the wallets and Iranian military-affiliated organizations. Approximately $213 million was held in one address, while the second contained around $131 million.

Previous reports indicated that the total value of seized or frozen assets had exceeded $500 million. However, Bessent’s latest remarks suggest that the combined amount is now approaching the $1 billion mark.

The Treasury Secretary also confirmed that efforts to disrupt Iranian financial flows will continue. He emphasized that U.S. authorities intend to track and block every channel used by Tehran to move funds internationally.

The case highlights the growing role of cryptocurrencies in global politics and economic strategy. In April, reports emerged that Iran had considered charging transit fees in Bitcoin for ships passing through the Strait of Hormuz. The proposal was seen as a potential way to bypass parts of the traditional banking system and reduce the impact of international sanctions.

As governments increasingly turn to digital assets for strategic and financial purposes, cryptocurrencies are evolving beyond investment tools and becoming an important element of modern geopolitical competition.