U.S. Plans to Seize Another $1B in Iran-Linked Crypto, Bessent Says

U.S. Treasury Secretary Scott Bessent says the government will “probably” seize another $1 billion in cryptocurrency linked to Iran this week. The warning comes as Washington steps up pressure on Tehran’s financial networks, following earlier crypto freezes and efforts to restrict Iranian oil trade.

Bessent Says U.S. Has Tracked Iran-Linked Crypto

Speaking at a conference, Bessent said authorities know where the targeted funds are located.

“We know where it is,” he said, describing the broader effort as an “absolute isolation campaign.”

Bessent also said the pressure was affecting Iran’s Islamic Revolutionary Guard Corps (IRGC). He said the group “is now panicking amongst themselves,” adding that the campaign was unlike anything seen before.

Bessent also pointed to military action and maritime blockades as part of the pressure on Tehran.

“We have, we had military. Now we have the blockades, so nothing is going in, coming out or going in,”

The possible seizure would add to earlier actions targeting cryptocurrency wallets linked to Iranian entities and officials.

Earlier Crypto Freezes Include $550M in USDT

The latest plan follows earlier actions against Iran-linked digital assets. According to the reference, authorities have already targeted approximately $550 million in USDT linked to Iranian entities, including wallets on the TRON blockchain.