- The latest reports reveal that the US froze the $130 million IRGC crypto wallet.
- The move comes as part of the US’s broader crackdown on Iran’s financial network.
- The team is also attempting to track more assets linked to Iranian leadership.
As the United States escalates its scrutiny of Iran’s financial networks, the Treasury Department has reportedly frozen the IRGC crypto wallet worth $130 million. According to Treasury Secretary Scott Bessent, the move is part of the country’s broader efforts to track and block cryptocurrencies linked to Iran.
Bessent also stated that the US is now attempting to track more crypto accounts and other assets connected to Iran’s leadership, especially Supreme Leader Ayatollah Ali Khamenei. The US investigators are reportedly identifying Tehran’s financial ties worldwide.
Why Did the US Freeze the IRGC Crypto Wallet?
According to the latest reports, the US froze a $130 million crypto wallet allegedly linked to Iran’s Islamic Revolutionary Guard Corps (IRGC). This initiative comes as the US authorities are monitoring crypto wallets and financial accounts possibly connected to Iran. Treasury Secretary Scott Bessent stated,
“We are tracking these accounts all over the world…We froze a crypto wallet linked to the IRGC the other day.”
Notably, the IRGC crypto wallet is a digital asset address that is largely believed to be controlled by Iran’s Islamic Revolutionary Guard Corps. As per findings of blockchain researchers, the IRGC crypto wallet is linked to thousands of digital asset addresses. Officials say that the group uses crypto to move funds outside the conventional banking system. This makes it more difficult for international sanctions to block transactions.
As noted by Bessent, the US authorities are targeting Iran’s funding network. The investigators have already identified a key financial operator apparently related to Supreme Leader Ayatollah Ali Khamenei. They are tracing assets, including properties worth more than $100 million.
Further, Bessent stated that Iran’s economy is facing serious challenges. Adding more points to his claim, Bessent stated that the Iranian rial has fallen to a record low against the US dollar. At the same time, the inflation rate has climbed to a high of 180%.
US Tightens Crypto Pressure on Iran
According to Bessent, Iran’s worsening economic conditions reflect the impact of the US’s ongoing sanctions and financial pressure on Tehran. It is also worth noting that the latest move comes on the heels of a series of actions from the US.
Recently, the Treasury Department sanctioned one of the largest crypto exchanges. In addition, the country had also seized more than $1 billion worth of Iranian-linked crypto assets earlier. Reports from blockchain analytics firms reveal that the IRGC crypto wallet has processed more than $3 billion in digital asset transactions in 2025.
Another major incident was stablecoin giant Tether’s $344 million USDT freezing earlier this year. The platform seized these tokens as it suspected their possible connection to the IRGC crypto wallet.
Related: Signum’s Hormuz TACO Index Signals Possible Trump-Iran Pivot by Late July
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