US seizes $1 billion in Iranian crypto amid sanctions

The US seized about $1 billion in Iranian crypto assets, including a $344M USDT freeze. Operation Economic Fury targets Iran’s use of stablecoins to evade sanctions.

US Treasury Secretary Scott Bessent announced that the United States has seized approximately $1 billion in Iranian cryptocurrency assets as part of ongoing sanctions enforcement. This figure includes previous actions, such as the April 2026 freeze of $344 million in USDT on the Tron blockchain, as well as additional seizures since then. Operation Economic Fury, launched in March 2025, targets Iran’s sanctions-evasion networks, with a focus on stablecoins like USDT used for oil sales and other financial operations. The US has worked closely with issuers such as Tether and blockchain analytics firms to identify and immobilize wallets linked to Iran. While Bessent cited a $1 billion total, officials noted that direct US seizures are closer to $500 million, with the remainder resulting from coordinated freezes by Tether. This operation underscores the US government’s commitment to disrupting Iran’s access to digital assets and highlights the increasing role of cryptocurrencies in international finance and sanctions enforcement.