The US could seize about $1 billion in Iran-linked cryptocurrency this week, Treasury Secretary Scott Bessent said, as Washington intensifies efforts to restrict Tehran’s access to funds.
Speaking at a summit in Washington on Thursday, Bessent said authorities had identified the assets. “We know where it is and we are isolating them,” he told Greta Van Susteren. However, he did not clarify whether the funds had been reported previously.
US Expands Iran Crypto Crackdown
Bessent described Washington’s broader strategy as an “absolute isolation campaign,” citing restrictions on flights, shipping through the Strait of Hormuz and Iran’s land routes.
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The latest statement raises questions about previous seizure figures. In May, Bessent said the US had seized about $1 billion in Iranian crypto, while a later Treasury statement cited an earlier estimate of nearly $500 million.
In July, the Treasury sanctioned Iran-linked wallets holding about $130 million in assets. Blockchain analyst Specter linked the action to four Tron addresses holding roughly $131 million in USDT, which Tether subsequently blacklisted.
Sanctions Target Iranian Crypto Exchanges
In September, Washington sanctioned BitBank over alleged Bitcoin transfers worth hundreds of millions of dollars to Iran’s Islamic Revolutionary Guard Corps.
The US also sanctioned Nobitex, Wallex, Bitpin and Ramzinex in June, followed by Shelbit and Aban Tether in August. Bessent has yet to clarify which assets could be seized or whether they were included in previous enforcement actions.
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