The USA has seized Iranian crypto assets worth approximately one billion dollars. This was announced by U.S. Treasury Secretary Scott Bessent, who noted that some wallet owners may not have even realized yet that they have lost their funds.
“We seized approximately a billion dollars of their cryptocurrency,” Bessent said at the Reagan National Economic Forum. According to him, U.S. authorities “simply took over” the wallets. The newly announced amount is approximately double the sum that the U.S. Treasury Department mentioned at the end of April.
Part of Pressure on Iran
According to Bessent, the action is part of a broader U.S. campaign against Iran, known as Operation Economic Fury. It was launched in March 2025 and targets the financial resources of the Iranian regime. Beyond cryptocurrencies, it also involves freezing bank accounts and cooperating with European allies on asset seizures.
Washington claims that Iran was attempting to circumvent sanctions through digital assets and move money beyond the reach of the traditional financial system. Cryptocurrencies are once again at the center of geopolitical conflict—not as speculative investments, but as a tool of financial infrastructure for a state under pressure.
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Iran Faces Serious Problems According to USA
Bessent also portrayed Iran’s economic situation as extremely tense. He claims that the regime was collecting 400 to 500 million dollars every month, which was then distributed among approximately 80 leaders of the country. According to him, U.S. actions have managed to interrupt this flow of money.
The Treasury Secretary also stated that inflation in Iran may have exceeded 200%, food vouchers are being distributed in the country, the internet has been shut down, and 40 to 50% of Iranian soldiers are not receiving their pay, according to him. These claims fit into the picture of growing economic pressure with which the USA is trying to force Tehran to change its behavior.
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From 344 Million to a Billion
As recently as April 24, the U.S. Office of Foreign Assets Control announced sanctions against Iran-linked wallets, which led to the freezing of cryptocurrency worth 344 million dollars. At the end of April, approximately 500 million dollars in Iranian digital assets were mentioned. Bessent’s current statement therefore represents a significant increase in the total amount.
For the cryptocurrency market, the case is important for another reason. It shows that while blockchain enables value transfer outside traditional banking channels, it is not as anonymous as often claimed. If specific wallets can be identified and stablecoin issuers or exchanges can be engaged, authorities can significantly restrict the movement of funds.
Bitcoin as Insurance for Hormuz?
According to available information, Iran is also trying to actively use cryptocurrencies. Reports have emerged that the country is considering a digital insurance model for ships passing through the Strait of Hormuz. A platform called Hormuz Safe would sell maritime insurance paid in bitcoin and settled on the blockchain. According to a document cited by the Fars agency, such a system could bring Iran more than 10 billion dollars.
In early April, a representative of the Iranian association of exporters of oil, gas, and petrochemical products stated that some ships could pass through the strait on the condition of paying a tariff of one dollar per barrel of oil, specifically in bitcoin.
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