Treasury Confirms $1B in Iranian Crypto Seized Under Operation Economic Fury
Key facts U.S. Treasury Secretary Scott Bessent announced on 29 May 2026 that the United States had seized roughly $1 billion in Iranian cryptocurrency assets. He made the statement during an interview with Fox Business on the "Kudlow" program at the Reagan National Economic Forum in Simi Valley, California.
"We have seized about a billion dollars of their crypto. Just outright grabbed the wallets."
— Scott Bessent, Treasury Secretary, 29 May 2026
Bessent said the seizures form part of Operation Economic Fury, a Treasury-led pressure campaign targeting Iran's financial networks. The campaign has also frozen bank accounts, sanctioned overseas real estate, and pressured foreign governments to cut ties with Tehran. Bessent said Iranian officials had moved between $400 million and $500 million per month through crypto channels before US intervention disrupted those flows.
Tether's April freeze of $344M in USDT stands as the largest single confirmed action under the campaignThe largest single action identified under the campaign to date was Tether's freeze of $344 million in USDT across two Tron blockchain addresses on 24 April 2026. Blockchain analytics firm Chainalysis identified on-chain patterns consistent with known Iranian military wallets. The action aligned with updated OFAC designations issued the same day. One address held $213 million and the other $131 million, both linked to the Islamic Revolutionary Guard Corps (IRGC) and Iran's Central Bank.
"We will track the funds that Tehran is urgently attempting to transfer abroad and target all financial avenues linked to the regime."
— Scott Bessent, Treasury Secretary, 29 May 2026
OFAC has sanctioned more than 1,000 Iran-linked entities since Operation Economic Fury beganAccording to Bitcoin Magazine, the Office of Foreign Assets Control (OFAC) has sanctioned more than 1,000 Iran-linked entities and wallet addresses since the campaign began. Bessent said the economic impact on Iran has been severe: military personnel were not receiving salaries, police were failing to report for duty, and inflation had exceeded 200%. The $1 billion seizure total is cumulative and approximate, covering multiple Treasury and law enforcement actions conducted over several months.
Primary source: CoinDesk — U.S. says it seized about $1 billion in Iranian crypto as pressure campaign expands, 30 May 2026 "We have seized about a billion dollars of their crypto. Just outright grabbed the wallets."
— Scott Bessent, Treasury Secretary, 29 May 2026
Bessent said the seizures form part of Operation Economic Fury, a Treasury-led pressure campaign targeting Iran's financial networks. The campaign has also frozen bank accounts, sanctioned overseas real estate, and pressured foreign governments to cut ties with Tehran. Bessent said Iranian officials had moved between $400 million and $500 million per month through crypto channels before US intervention disrupted those flows.
Tether's April freeze of $344M in USDT stands as the largest single confirmed action under the campaignThe largest single action identified under the campaign to date was Tether's freeze of $344 million in USDT across two Tron blockchain addresses on 24 April 2026. Blockchain analytics firm Chainalysis identified on-chain patterns consistent with known Iranian military wallets. The action aligned with updated OFAC designations issued the same day. One address held $213 million and the other $131 million, both linked to the Islamic Revolutionary Guard Corps (IRGC) and Iran's Central Bank.
"We will track the funds that Tehran is urgently attempting to transfer abroad and target all financial avenues linked to the regime."
— Scott Bessent, Treasury Secretary, 29 May 2026
OFAC has sanctioned more than 1,000 Iran-linked entities since Operation Economic Fury beganAccording to Bitcoin Magazine, the Office of Foreign Assets Control (OFAC) has sanctioned more than 1,000 Iran-linked entities and wallet addresses since the campaign began. Bessent said the economic impact on Iran has been severe: military personnel were not receiving salaries, police were failing to report for duty, and inflation had exceeded 200%. The $1 billion seizure total is cumulative and approximate, covering multiple Treasury and law enforcement actions conducted over several months.
Primary source: CoinDesk — U.S. says it seized about $1 billion in Iranian crypto as pressure campaign expands, 30 May 2026 Bessent said the seizures form part of Operation Economic Fury, a Treasury-led pressure campaign targeting Iran's financial networks. The campaign has also frozen bank accounts, sanctioned overseas real estate, and pressured foreign governments to cut ties with Tehran. Bessent said Iranian officials had moved between $400 million and $500 million per month through crypto channels before US intervention disrupted those flows.
Tether's April freeze of $344M in USDT stands as the largest single confirmed action under the campaignThe largest single action identified under the campaign to date was Tether's freeze of $344 million in USDT across two Tron blockchain addresses on 24 April 2026. Blockchain analytics firm Chainalysis identified on-chain patterns consistent with known Iranian military wallets. The action aligned with updated OFAC designations issued the same day. One address held $213 million and the other $131 million, both linked to the Islamic Revolutionary Guard Corps (IRGC) and Iran's Central Bank.
"We will track the funds that Tehran is urgently attempting to transfer abroad and target all financial avenues linked to the regime."
— Scott Bessent, Treasury Secretary, 29 May 2026
OFAC has sanctioned more than 1,000 Iran-linked entities since Operation Economic Fury beganAccording to Bitcoin Magazine, the Office of Foreign Assets Control (OFAC) has sanctioned more than 1,000 Iran-linked entities and wallet addresses since the campaign began. Bessent said the economic impact on Iran has been severe: military personnel were not receiving salaries, police were failing to report for duty, and inflation had exceeded 200%. The $1 billion seizure total is cumulative and approximate, covering multiple Treasury and law enforcement actions conducted over several months.
Primary source: CoinDesk — U.S. says it seized about $1 billion in Iranian crypto as pressure campaign expands, 30 May 2026 Bessent said the seizures form part of Operation Economic Fury, a Treasury-led pressure campaign targeting Iran's financial networks. The campaign has also frozen bank accounts, sanctioned overseas real estate, and pressured foreign governments to cut ties with Tehran. Bessent said Iranian officials had moved between $400 million and $500 million per month through crypto channels before US intervention disrupted those flows.
Tether's April freeze of $344M in USDT stands as the largest single confirmed action under the campaignThe largest single action identified under the campaign to date was Tether's freeze of $344 million in USDT across two Tron blockchain addresses on 24 April 2026. Blockchain analytics firm Chainalysis identified on-chain patterns consistent with known Iranian military wallets. The action aligned with updated OFAC designations issued the same day. One address held $213 million and the other $131 million, both linked to the Islamic Revolutionary Guard Corps (IRGC) and Iran's Central Bank.
"We will track the funds that Tehran is urgently attempting to transfer abroad and target all financial avenues linked to the regime."
— Scott Bessent, Treasury Secretary, 29 May 2026
OFAC has sanctioned more than 1,000 Iran-linked entities since Operation Economic Fury beganAccording to Bitcoin Magazine, the Office of Foreign Assets Control (OFAC) has sanctioned more than 1,000 Iran-linked entities and wallet addresses since the campaign began. Bessent said the economic impact on Iran has been severe: military personnel were not receiving salaries, police were failing to report for duty, and inflation had exceeded 200%. The $1 billion seizure total is cumulative and approximate, covering multiple Treasury and law enforcement actions conducted over several months.
Primary source: CoinDesk — U.S. says it seized about $1 billion in Iranian crypto as pressure campaign expands, 30 May 2026 The largest single action identified under the campaign to date was Tether's freeze of $344 million in USDT across two Tron blockchain addresses on 24 April 2026. Blockchain analytics firm Chainalysis identified on-chain patterns consistent with known Iranian military wallets. The action aligned with updated OFAC designations issued the same day. One address held $213 million and the other $131 million, both linked to the Islamic Revolutionary Guard Corps (IRGC) and Iran's Central Bank.
"We will track the funds that Tehran is urgently attempting to transfer abroad and target all financial avenues linked to the regime."
— Scott Bessent, Treasury Secretary, 29 May 2026
OFAC has sanctioned more than 1,000 Iran-linked entities since Operation Economic Fury beganAccording to Bitcoin Magazine, the Office of Foreign Assets Control (OFAC) has sanctioned more than 1,000 Iran-linked entities and wallet addresses since the campaign began. Bessent said the economic impact on Iran has been severe: military personnel were not receiving salaries, police were failing to report for duty, and inflation had exceeded 200%. The $1 billion seizure total is cumulative and approximate, covering multiple Treasury and law enforcement actions conducted over several months.
Primary source: CoinDesk — U.S. says it seized about $1 billion in Iranian crypto as pressure campaign expands, 30 May 2026 "We will track the funds that Tehran is urgently attempting to transfer abroad and target all financial avenues linked to the regime."
— Scott Bessent, Treasury Secretary, 29 May 2026
OFAC has sanctioned more than 1,000 Iran-linked entities since Operation Economic Fury beganAccording to Bitcoin Magazine, the Office of Foreign Assets Control (OFAC) has sanctioned more than 1,000 Iran-linked entities and wallet addresses since the campaign began. Bessent said the economic impact on Iran has been severe: military personnel were not receiving salaries, police were failing to report for duty, and inflation had exceeded 200%. The $1 billion seizure total is cumulative and approximate, covering multiple Treasury and law enforcement actions conducted over several months.
Primary source: CoinDesk — U.S. says it seized about $1 billion in Iranian crypto as pressure campaign expands, 30 May 2026 OFAC has sanctioned more than 1,000 Iran-linked entities since Operation Economic Fury beganAccording to Bitcoin Magazine, the Office of Foreign Assets Control (OFAC) has sanctioned more than 1,000 Iran-linked entities and wallet addresses since the campaign began. Bessent said the economic impact on Iran has been severe: military personnel were not receiving salaries, police were failing to report for duty, and inflation had exceeded 200%. The $1 billion seizure total is cumulative and approximate, covering multiple Treasury and law enforcement actions conducted over several months.
Primary source: CoinDesk — U.S. says it seized about $1 billion in Iranian crypto as pressure campaign expands, 30 May 2026 According to Bitcoin Magazine, the Office of Foreign Assets Control (OFAC) has sanctioned more than 1,000 Iran-linked entities and wallet addresses since the campaign began. Bessent said the economic impact on Iran has been severe: military personnel were not receiving salaries, police were failing to report for duty, and inflation had exceeded 200%. The $1 billion seizure total is cumulative and approximate, covering multiple Treasury and law enforcement actions conducted over several months.
Primary source: CoinDesk — U.S. says it seized about $1 billion in Iranian crypto as pressure campaign expands, 30 May 2026 Primary source: CoinDesk — U.S. says it seized about $1 billion in Iranian crypto as pressure campaign expands, 30 May 2026 Cryptocurrencies are highly volatile and involve significant risk. You may lose part or all of your investment. All information on Coinpaprika is provided for informational purposes only and does not constitute financial or investment advice. Always conduct your own research (DYOR) and consult a qualified financial advisor before making investment decisions. Coinpaprika is not liable for any losses resulting from the use of this information.