US Seizes $500M in Iranian Crypto Assets as Sanctions Campaign Intensifies

The United States has seized nearly $500 million worth of Iranian cryptocurrency assets, a major escalation in its sanctions effort targeting Tehran’s financial system, according to Treasury Secretary Scott Bessent.

Operation Economic Fury Expands Financial Pressure on Iran

Bessent said the seizures are part of “Operation Economic Fury,” launched under Donald Trump in March 2025. The campaign aims to disrupt Iran’s financial networks through asset freezes, sanctions on oil trade intermediaries, and restrictions on international banking channels.

The newly disclosed figure of nearly $500 million exceeds the previously reported $344 million in frozen crypto assets linked to Iranian wallets. That earlier action included coordination with Tether, which confirmed freezing large amounts of USDT tied to sanctioned entities.

Broader Sanctions Target Banking, Oil, and Military Supply Chains

The Treasury has also sanctioned dozens of entities connected to Iran’s shadow banking system, shipping networks, and oil trade operations, including firms linked to China-based refining activity. Additional measures targeted individuals and organizations involved in supplying components for Iranian missile and drone programs.

Since early 2025, more than 1,000 Iran-related entities, vessels, and individuals have been sanctioned under the ongoing campaign.

Economic Pressure and Crypto-Related Activity

Officials say Iran’s economy is under significant strain, with currency depreciation and banking instability deepening. Reports have also suggested potential use of Bitcoin or stablecoins for maritime tolls in the Strait of Hormuz, though these claims remain unconfirmed by Tehran.