finance
U.S. Seizes $1 Billion in Cryptocurrency Linked to Iran
Treasury Secretary Scott Bessent said authorities grabbed wallets connected to Iran under Operation Economic Fury. The action targets overseas revenue channels and digital-asset infrastructure.
May 30, 11:50 AM·1m read1 source
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The United States seized about $1 billion worth of cryptocurrency tied to Iran, Treasury Secretary Scott Bessent said. U.S. authorities had “grabbed the wallets” and seized cryptocurrency connected to Iran.
The seizure falls under Operation Economic Fury. U.S. Treasury press release.
Treasury has cracked down on Tehran’s global shadow banking networks. It designated networks supplying weapons and other military components to Iran. Treasury also sanctioned a corrupt Iraqi official who has facilitated the sale of oil along with Iran-backed militias operating in Iraq.
Bessent said the pressure campaign contributed to worsening economic conditions in Iran. Inflation in Iran had exceeded 200%. Large numbers of military personnel were not being paid. Police officers were failing to report for duty.
Iranian authorities had resorted to food vouchers and internet shutdowns. U.S. and its partners were targeting overseas real estate and other assets described as proceeds diverted from the Iranian people.
Iranian officials had previously moved hundreds of millions of dollars each month before Treasury intervention. CoinDesk reported the details of the seizure and the Treasury secretary’s statements.
