U.S. Treasury Secretary Says U.S. Has Seized Approximately $1 Billion in Iranian Crypto Assets

Odaily reported that U.S. Treasury Secretary Scott Bessent stated that since the outbreak of the conflict in February, the U.S. government has seized a large amount of crypto assets, approximately $1 billion, from entities affiliated with the Iranian military. Scott Bessent also stated that the U.S. has taken direct control of the relevant wallets, and some holders may not yet be aware that their assets have been seized.

Iran's Islamic Revolutionary Guard Corps has been accused this month of promoting a Bitcoin-based maritime insurance platform called Hormuz Safe. Iran has also previously planned to require oil tankers transiting the Strait of Hormuz to pay passage fees in Bitcoin. Scott Bessent did not directly link this seizure to the aforementioned arrangements, nor did he specify whether Bitcoin was involved.

Separate allegations claim that actors linked to Iran have used Tether's USDT stablecoin to transfer funds, and the Islamic Revolutionary Guard Corps is alleged to have received $1.5 billion in USDT.