US seizes $500M in Iranian crypto, causing turmoil

The U.S. seized nearly $500M in Iranian crypto as part of Operation Economic Fury, causing inflation, bank bankruptcy, and a sharp currency drop in Iran.

The United States has seized nearly $500 million in Iranian cryptocurrency assets as part of Operation Economic Fury, a campaign designed to increase economic pressure on Iran. The most significant action involved Tether freezing over $344 million in USDT on the Tron blockchain. Launched in March 2025, the operation includes asset seizures, freezing of bank accounts, and diplomatic efforts to further isolate Iran. U.S. officials report that the campaign targets not only crypto assets but also retirement funds and overseas real estate linked to Iranian officials. These measures have reportedly led to severe economic consequences in Iran, such as massive inflation, the bankruptcy of the country’s largest bank, and a 60–70% drop in the national currency against the U.S. dollar. U.S. authorities claim the actions are intended to benefit the Iranian people and state that the campaign is nearing completion.