Bessent: The US "directly seized" Iran's $1 billion crypto wallet, some officials may not even know yet

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US Treasury Secretary Scott Bessent stated at the Reagan National Economic Forum on the 29th that the US has seized approximately $1 billion in cryptocurrency from Iran, "directly snatching their wallets," and some Iranian officials "may not even know the money is gone yet." (Background: US Treasury names "Iran crypto channels" on sanctions list, USDT's grey circulation space is disappearing) (Background: After 40 years of sanctions, how Iran rebuilt financial channels through crypto) Key Highlights - Bessent claims the US has seized approximately $1 billion in Iranian cryptocurrency, doubled from $500 million in April within one month - Tether cooperated with OFAC to freeze two Tron wallets belonging to Iran's central bank totaling $344.2 million USDT ($213 million + $131 million) - Bessent claims 40-50% of Iranian troops are not receiving salaries, inflation exceeds 200%, and leadership has been "decapitated" down to the third tier Forty to fifty percent of Iran's military isn't getting paid, police aren't showing up to work, inflation may exceed 200%, and the government has started issuing food stamps. This isn't a battlefield report — it's the US Treasury Secretary describing the effects of economic sanctions on Iran. Speaking at the Reagan National Economic Forum in Simi Valley, California on the 29th, Bessent said that since the US launched "Operation Economic Fury" in March 2025, sanctions have been imposed on more than 1,000 Iran-related entities, and cryptocurrency is the latest battlefield in this economic war. "I believe we have seized approximately $1 billion in cryptocurrency," Bessent said. "Directly snatching their wallets. Some of these government officials may still be tapping at keyboards right now, having no idea their wallets have already been seized." Tether Is a Key Player This figure has doubled in one month. At the end of April, Bessent first announced a cumulative total of approximately $500 million; just a month later, the crypto wallets seized by the US have ballooned to $1 billion. The largest single portion came from Tether's cooperation. After OFAC updated the SDN sanctions list for Iran's central bank, Tether proactively froze two Tron wallets linked to Iran's central bank, with amounts of $213 million and $131 million respectively, totaling $344.2 million USDT. Chainalysis analysis confirmed that the on-chain patterns of these addresses match "known Iranian military wallets." However, the $1 billion figure is also disputed. Some US media argue that this is a "politically rounded figure" resulting from combining the approximately $500 million directly seized by the Treasury with the $344.2 million frozen by Tether, and the number may be exaggerated. Iran's reliance on crypto channels is striking. Chainalysis data shows that Iran-related crypto transaction volume reached $7.8 billion in 2025, with the Iranian regime extracting $400-500 million per month through crypto channels before intervention, distributed to dozens of leaders. They primarily used USDT on the Tron blockchain because transaction fees are lower than on Ethereum. FAQ How does the US seize Iran's cryptocurrency? Mainly through two methods: After OFAC adds Iran-related wallets to the SDN sanctions list, stablecoin issuers like Tether proactively freeze the corresponding addresses (such as freezing $344.2 million USDT in April); the Treasury also directly seizes some wallets. Is the $1 billion seizure figure accurate? It is disputed. CryptoBriefing reported that the $1 billion is a "politically rounded figure" resulting from combining the approximately $500 million directly seized by the Treasury with the $344.2 million frozen by Tether, and some officials have admitted there is exaggeration.

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Published:2026-05-30 02:46:59

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