Treasury Secretary Besent says the US has ‘seized’ $1 billion worth of cryptocurrencies from Iran

The US government has seized massive amounts of cryptocurrencies from entities linked to the Iranian military since the war broke out in February, according to Treasury Secretary Scott Besent.

Speaking Friday at the 2026 Reagan National Economic Forum in Simi Valley, California, he said He said Some actors who own digital assets may not even know that the funds are gone.

“I think we confiscated about $1 billion worth of their cryptocurrencies,” Besant said. Fox Business Network”Larry Kudlow. “The wallets have just been taken. Some of them may be writing right now, and they may not have realized their wallet was taken.”

This statement reflects the US government’s comprehensive campaign of repression against the Iranian government, which benefits from the flow of oil through the Strait of Hormuz. Amid the conflict, the waterway – through which 20% of the world’s oil flows – remains largely choked.

Besant’s comments come as the United States and Iran move closer to reaching an agreement that could ease tensions threatening the global economy. Negotiators have reached an agreement that could prolong a fragile ceasefire, pending approval by President Donald Trump Axios.

Knightan Iranian state-owned news agency, I mentioned This month, the Iranian Revolutionary Guard promoted a Bitcoin-stable maritime insurance platform called Hormuz Safe.

In April, Financial Times Reported that Iran Plans Oil tankers passing through the strait are required to pay transit fees in Bitcoin. At the time, the newspaper quoted an Iranian official as saying that the fees “cannot be traced or confiscated due to sanctions.”

On Friday, Besant did not link the seizures to the reported scheme — nor did he say the US government’s actions related to the largest cryptocurrency by market capitalization.

Meanwhile, the scammers were impersonating Iranian authorities Targeting Shippers with fraudulent payment requests in Bitcoin and Tether’s USDT stablecoin, Reuters Reported in April. Last year, the Israeli National Office for Combating Terrorist Financing The alleged one The Iranian Islamic Revolutionary Guard Corps has received $1.5 billion in stablecoins.