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The United States has seized roughly $1 billion in Iranian crypto assets, Treasury Secretary Scott Bessent said Friday, adding that some of the wallet owners may not yet know the funds are gone.
“I believe that we have seized about a billion dollars of their crypto,” Bessent <a href="https://www.youtube.com/watch?v=p0QLUHgwQKE" rel="noopener noreferrer nofollow">said</a> while speaking at the Reagan National Economic Forum. “Just outright grabbed the wallets. Some of them may be typing in right now and not have realized that their wallet had been grabbed,” he added.
Bessent said the seizures are part of the US financial pressure campaign against Iran, known as Operation Economic Fury. Launched in March 2025, the operation has targeted Iranian assets across multiple fronts, seizing cryptocurrency, freezing bank accounts and working with European allies to confiscate properties.<img alt="US has seized nearly $1 billion in Iranian crypto, Treasury secretary says" height="1714" src="https://s3-images.ctmedia.io/media/content/scott.png" width="3687">
Bessent at the Reagan National Economic Forum. Source: <a href="https://www.youtube.com/watch?v=p0QLUHgwQKE" rel="noopener noreferrer nofollow">YouTube</a>
“I think between five and a half to six weeks of an incredibly successful military campaign and Operation Economic Fury, where we have really cut them off. They are at the end of their tether now financially,” he said.
Related: <a href="https://cointelegraph.com/news/crypto-markets-tank-80b-as-us-carries-out-fresh-strikes-on-iran" rel="noopener noreferrer nofollow">Crypto markets shed $80B after fresh US strikes on Iran</a>
<h2 id="iran-s-financial-state-is-dire">Iran’s financial state is dire</h2>
The Treasury secretary said the regime had been siphoning $400 to $500 million a month and dividing the proceeds among roughly 80 leaders before the US intervened. He said inflation in Iran has likely surpassed 200%, food vouchers are being distributed, the internet has been shut down and 40% to 50% of Iranian troops are not getting paid.
Bessent also addressed ongoing negotiations with Iran, noting the complexity of dealing with a fractured leadership structure following US and Israeli strikes on senior regime figures.
The newly disclosed $1 billion figure is roughly <a href="https://cointelegraph.com/news/us-seized-500m-in-iranian-crypto-assets-treasury-secretary-says" rel="noopener noreferrer nofollow">double the $500 million</a> in Iranian cryptocurrency assets the Treasury Department announced it had seized in late April, and much higher than the $344 million in cryptocurrency frozen after the US Office of Foreign Assets Control <a href="https://cointelegraph.com/news/united-states-freeze-crypto-iran" rel="noopener noreferrer nofollow">sanctioned Iran-linked wallets on April 24</a>.
Related: <a href="https://cointelegraph.com/news/bitcoin-bounces-as-trump-prepares-to-announce-negotiated-iran-deal" rel="noopener noreferrer nofollow">Bitcoin bounces as Trump prepares to announce ‘negotiated’ Iran deal</a>
<h2 id="iran-eyes-bitcoin-powered-insurance-scheme-for-hormuz">Iran eyes Bitcoin-powered insurance scheme for Hormuz</h2>
As Cointelegraph reported, Iran is <a href="https://cointelegraph.com/news/iran-mulls-platform-for-ships-transiting-strait-of-hormuz-to-pay-in-bitcoin-report" rel="noopener noreferrer nofollow">weighing a plan to monetize</a> control of the Strait of Hormuz through a Bitcoin-based insurance model. A state document cited by Fars News Agency, an outlet closely affiliated with the Islamic Revolutionary Guard Corps, outlined a platform called “Hormuz Safe,” which would sell digital marine insurance paid in Bitcoin and settled on the blockchain, potentially generating over $10 billion in revenue for the country.
In early April, a spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union said certain ships would be able to pass through the strait provided that they pay a tariff of <a href="https://cointelegraph.com/news/iran-crypto-ships-strait-hormuz" rel="noopener noreferrer nofollow">$1 per barrel of oil in Bitcoin.</a>
Magazine: <a href="https://cointelegraph-magazine.com/guide-top-emerging-global-crypto-hubs-2026/" rel="noopener noreferrer nofollow">Guide to the top and emerging global crypto hubs — Mid-2026</a>

US has seized nearly $1 billion in Iranian crypto, Treasury secretary says

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