The U.S. Seizes $1 Billion in Crypto Assets Linked to Iran
U.S. Treasury Secretary Scott Bessent stated that American authorities have now taken control of cryptocurrency assets worth around $1 billion that are linked to Iran.
Summary:
- The United States has seized approximately $1 billion.
- $344 million in USDT was frozen.
- Some owners may not yet be aware.
- Washington is increasing financial pressure.
According to him, U.S. authorities have directly assumed control of crypto wallets that Washington believes were being used to circumvent sanctions.
“Some of these people may even be trying to log into their wallets right now and still not realize that they have already lost them,” Bessent said.
Just one month earlier, on April 29, Bessent spoke of nearly $500 million in seized assets, meaning the total value of the funds has almost doubled in just a few weeks.
How the Funds Were Seized
Based on Bessent’s explanation, the Treasury Department identified cryptocurrency wallets that U.S. authorities believe were being used to evade sanctions against Iran.
After identifying them, authorities blocked access to the funds and placed them under their control.
Part of the total amount includes the freezing of $344 million in USDT on the Tron network in April 2026. According to U.S. authorities, these funds were being used to transfer value outside the reach of the traditional banking system.
Bessent claims that Iran had been generating between $400 million and $500 million per month through various sanctions-evasion schemes.
Part of a Broader Financial Campaign
Crypto assets are only one component of a larger financial campaign that the United States is conducting against Iran.
According to Bessent, the pressure is not limited to blocking digital assets. He claims that U.S. actions at sea have significantly disrupted operations at Kharg Island – the main terminal for Iranian oil exports and one of the country’s most important sources of revenue.
At the same time, Gulf states have increased cooperation with Washington in freezing bank accounts linked to Iran. U.S. and European allies are also working to locate and seize real estate and other assets that authorities believe are connected to members of Iran’s leadership.
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According to Bessent, the combination of military pressure and financial restrictions has placed Iran in an extremely difficult position. He emphasized that the goal is not regime change, but argued that the measures taken have already significantly hindered the government’s operations and weakened its ability to function normally.
Why Crypto Assets Are a Focus of the Operation
Over the past decade, cryptocurrencies have increasingly been used by sanctioned countries as an alternative channel for international payments.
Restrictions on the banking system make access to global financial markets more difficult, and blockchains were long considered one of the few remaining ways to bypass some of these limitations.
According to U.S. authorities, this is precisely what made crypto assets a key target in the operation against Iran.
However, the case also demonstrates something else: the ability to trace transactions on public blockchains is far greater than many market participants had assumed.
Kosta Gushterov
Reporter at CoinsPress
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
