Key facts
- The U.S. has identified about $1 billion in cryptocurrency assets potentially linked to Iran.
- Scott Bessent stated authorities know the location of these assets and may seize them.
- The Treasury Department has not officially announced the seizure.
- Iran's cryptocurrency ecosystem handled over $7.78 billion in transactions in 2025.
- Wallets linked to Iran's Islamic Revolutionary Guard Corps accounted for over 52% of the country's crypto activity in Q4 2025.
- TRM Labs noted over $3.84 billion transited between CoinEx and sanctioned Iranian entities over seven years.
The United States has identified approximately $1 billion in cryptocurrency assets that may be seized as part of an intensified effort to isolate Iran financially. Scott Bessent, speaking at the NPolicy Summit, revealed the U.S. government's plan to freeze these assets, stating that authorities are aware of their location.
While Bessent indicated a potential seizure of around $1 billion in crypto assets within the week, he did not specify the cryptocurrencies, wallet addresses, or financial institutions involved. The Treasury Department has yet to make an official announcement regarding the proposed seizure.
This move is framed as part of Washington's "absolute isolation campaign" against Iran, which encompasses financial restrictions, maritime controls, and limitations on international travel. Earlier, on October 8, the U.S. Treasury sanctioned 17 vessels accused of transporting Iranian petroleum and petrochemical products as part of "Operation Economic Outcast," launched in August to curtail Iranian revenue.
According to a Chainalysis report, Iran's cryptocurrency ecosystem saw over $7.78 billion in transactions in 2025 amidst economic challenges and sanctions. During the fourth quarter of 2025, wallets associated with Iran's Islamic Revolutionary Guard Corps (IRGC) accounted for more than 52% of the nation's cryptocurrency activity, with over $3 billion transferred to these addresses throughout the year. TRM Labs also reported that over $3.84 billion moved between CoinEx and sanctioned Iranian entities over the past seven years, including approximately $2.7 billion between CoinEx and Nobitex, Iran's largest domestic exchange.