US Seized $500M in Iranian Crypto Assets, Treasury Secretary Says

U.S. Treasury Secretary Scott Bessent announced that the United States has seized approximately $500 million in Iranian cryptocurrency assets as part of "Operation Economic Fury." This operation, initiated by President Donald Trump in March 2025, aims to cripple Iran's finances through asset seizures, bank account freezes, and sanctions on countries trading Iranian oil. Bessent stated that the campaign is freezing bank accounts globally and making entities less willing to engage with the Iranian regime, also targeting Iranian officials' retirement funds and overseas real estate. The seized amount significantly exceeds the previously disclosed $344 million in crypto assets, which included over $344 million in USDt frozen by Tether at U.S. authorities' request. Operation Economic Fury has reportedly impacted Iran's economy, leading to a major bank collapse and a 60-70% currency devaluation. The Treasury has also intensified sanctions, targeting Iran's shadow banking network, a Chinese oil refinery, shipping firms, and its missile and drone supply chain, sanctioning over 1,000 Iran-related entities and individuals since February 2025.

(Source：Cointelegraph)