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U.S. Treasury Secretary Scott Bessent Says United States Seized $1 Billion in Crypto From Iran

U.S. Treasury Secretary Scott Bessent Says United States Seized $1 Billion in Crypto From Iran

According to Scott Bessent, the seizure is part of Operation Economic Fury, a March 2025 campaign targeting Iran’s overseas revenue, banking networks, and cryptocurrency infrastructure.

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Fact Check
Bessent's $1 billion crypto seizure statement is well-corroborated. Iran International ('US seized $1B in Iranian crypto assets, Bessent says') reports the announcement directly. Bitcoin Magazine and RT both carry the video and direct quote ('Just outright grabbed the wallets'). The Fox Business April 2026 report noted ~$500M seized under Operation Economic Fury, and the Paul Hastings tracker had previously referenced a $1 billion cumulative figure, making the May 29 update consistent with the documented enforcement campaign. The claim accurately summarizes the announcement; the lack of further details (timing, assets, enforcement specifics) noted in the claim matches what Iran International also reported.
Summary

U.S. Treasury Secretary Scott Bessent said the United States has seized about $1 billion in cryptocurrency tied to Iran under Operation Economic Fury, a campaign launched in March 2025 to disrupt the country’s access to overseas revenue, banking networks, and crypto infrastructure. Speaking at the Reagan National Economic Forum, Bessent said the effort has included frozen bank accounts, confiscated properties coordinated with European allies, and digital asset seizures. The disclosed total is higher than earlier public figures of $344 million and $500 million reported in April. Bessent also said Iran had been drawing $400 million to $500 million per month before that flow was disrupted. Separately, the report says Iran has explored a proposed platform called Hormuz Safe that would sell marine insurance in Bitcoin to ships transiting the Strait of Hormuz, with a state document cited by Fars News Agency projecting more than $10 billion in potential revenue.

Terms & Concepts
  • Operation Economic Fury: A U.S. sanctions-enforcement campaign launched in March 2025 to disrupt Iran’s financial networks across overseas revenue channels, banking systems, properties, and digital assets.
  • Crypto infrastructure: The exchanges, wallets, payment rails, and blockchain-related services used to move, store, or access digital assets.
  • Bitcoin: The largest cryptocurrency by market value, cited in the report as the proposed payment asset for a possible Iranian marine insurance platform.