Speaking at the Reagan National Economic Forum, Treasury Secretary Scott Besent revealed that the United States has seized nearly $1 billion in Iran-linked cryptocurrencies as part of a broader campaign to strangle Tehran’s financial networks.
These disclosures come amid one of the most violent military confrontations the Middle East has witnessed in decades.
On February 27, 2026, the United States and Israel Fired Operation Epic Fury – a coordinated air campaign targeting Iranian nuclear facilities, military infrastructure, and Revolutionary Guard command centers.
Iran responded with ballistic missile strikes across the region, hitting Saudi Arabia, Bahrain, Qatar, the United Arab Emirates, and Iraq. A fragile ceasefire agreement was reached in early April and is still being implemented, but the economic war has never stopped.
Enter Operation Economic Rage. The campaign, ordered by President Trump and carried out by the Treasury Department, was designed to systematically dismantle every financial lifeline Tehran had left.
Since its launch, the Office of Foreign Assets Control (OFAC). punished More than 1,000 entities linked to Iran, frozen bank accounts owned by companies affiliated with the Revolutionary Guard, and — according to Besant — cryptocurrency wallets were directly accessed.
The single largest action came in late April, when it was confirmed by Tether I froze $344 million in USDT across two Tron blockchain addresses linked to the Iranian Revolutionary Guard, after blockchain analytics firm Chaina Analysis identified on-chain patterns consistent with known Iranian military wallets. One wallet contains approximately $213 million; The other is $131 million.
The total seizure figure has since risen to more than $500 million – and Besant’s latest comments suggest the current total is closer to $1 billion.
Bassant added: “We will urgently track the money that Tehran is trying to transfer abroad and we will target all financial avenues linked to the regime.” He said.
Bitcoin as a means of payment in Iran
Back in April, Iran It is said It plans to require ships passing through the Strait of Hormuz to pay transit fees in bitcoin during a temporary ceasefire with the United States
The policy aims to bypass sanctions and traditional banking barriers, giving Iran a way to raise revenues while maintaining control over the vital global oil corridor.
The move thrust Bitcoin into the geopolitical spotlight, raising operational and legal risks for shipping companies while highlighting how digital assets are being used in sovereign-controlled trade routes.
