US Seizes $1 Billion in Cryptocurrency from Iran's Illicit Oil Trade

The US Treasury Department has announced that it has seized over $1 billion worth of cryptocurrency from Iran, in a significant blow to the country's illicit oil trade.

According to Scott Bessent, Secretary of the Treasury, the department has 'just outright grabbed' Iranian wallets, seizing a total of around $1 billion in cryptocurrency. This move is part of a broader effort to target the IRGC and Iran's military apparatus.

The US is working closely with its European allies to seize other Iranian assets, including houses and villas. Bessent emphasized that this money was 'stolen from the Iranian people' and that the administration is committed to recovering it.