TL;DR
- US Treasury Secretary Scott Bessent said the United States could seize $1 billion in cryptocurrency linked to Iran within the week.
- The announcement follows previous freezes, wallet sanctions and enforcement actions targeting Iranian crypto exchanges and financial networks.
- Bessent did not identify the wallets involved or clarify whether the planned seizure represents additional assets beyond previously announced amounts.
The United States is preparing a potential $1 billion cryptocurrency seizure linked to Iran, according to Treasury Secretary Scott Bessent. The announcement signals an expansion of Washington’s financial pressure campaign, with digital assets becoming an increasingly important target in efforts to restrict Tehran’s access to international markets.
Speaking at Newsmax’s NPolicy Summit in Washington on Thursday, Bessent said authorities knew where the funds were located and expected to act soon. However, he provided no wallet addresses, detailed legal documentation or confirmation that the seizure process had already begun.
US Crypto Seizure Targets Iran-Linked Assets
Bessent described the strategy as an “absolute isolation campaign,” extending beyond conventional financial sanctions to include restrictions on transportation, international flights and access to neighboring countries. The cryptocurrency operation forms part of a broader effort to disrupt financial channels allegedly connected to the Iranian government.
The proposed $1 billion action follows earlier enforcement measures. In May, Bessent also referred to approximately $1 billion in seized Iranian cryptocurrency, although a subsequent Treasury statement cited an earlier estimate of nearly $500 million. The latest announcement therefore leaves an important question unanswered — whether officials are pursuing new funds or referring to assets already identified in previous operations.
In July, US authorities announced measures that resulted in approximately $130 million being frozen across four Tron addresses holding USDT, according to on-chain investigations. Stablecoin issuer Tether has also assisted US authorities in freezing Iran-linked funds, illustrating how centralized issuers can restrict transfers involving specific addresses.
Sanctions Expand Across Iran’s Crypto Network
Washington has also targeted Iranian cryptocurrency exchanges accused of facilitating transactions connected to sanctioned entities. Measures announced in June covered Nobitex, Wallex, Bitpin and Ramzinex, followed by additional actions against Shelbit and Aban Tether in August. In September, the Treasury Department targeted BitBank over allegations involving bitcoin transfers to Iran’s Islamic Revolutionary Guard Corps.
These actions demonstrate how blockchain transparency can help investigators trace transactions across public networks. At the same time, a wallet freeze is not automatically equivalent to a completed seizure. Freezing assets can prevent transfers, while permanently confiscating cryptocurrency generally requires an applicable legal basis and the relevant enforcement process.
