U.S. seizes approximately $1 billion in Iranian cryptocurrency amid expanded pressure campaign

The United States has seized approximately $1 billion in cryptocurrency associated with Iran, as part of an extensive campaign to undermine the country's funding mechanisms. Treasury Secretary Scott Bessent announced this development during an interview on Fox Business, stating that U.S. authorities have successfully "grabbed the wallets" linked to Iranian crypto assets.

This operation is a key component of "Operation Economic Fury," which aims to restrict Iran's access to international revenue streams, financial systems, and digital currencies. The Treasury's recent press release emphasized intensified efforts to disrupt Iran's global shadow banking activities and impose sanctions on networks supplying military resources to the country.

Furthermore, the U.S. has designated an Iraqi official involved in facilitating oil sales alongside Iranian-affiliated militias, highlighting the breadth of the sanctions strategy. Bessent pointed out that these pressures have significantly worsened Iran's economic situation, with reports indicating that military personnel are going unpaid and inflation has skyrocketed beyond 200%.

In response to these challenges, Iranian authorities have begun issuing food vouchers and enforcing internet blackouts. The Treasury Secretary also noted ongoing efforts to target overseas real estate and other assets, which he characterized as misappropriated funds belonging to the Iranian people. He remarked that prior to these initiatives, Iranian officials were reportedly transferring hundreds of millions of dollars each month.