US Freezes $130M IRGC Crypto Wallet Amid Growing Economic Pressure on Iran

The US Treasury Department has frozen a cryptocurrency wallet worth $130 million allegedly linked to Iran's Islamic Revolutionary Guard Corps (IRGC). The move is part of a broader effort by the US to track and block cryptocurrencies connected to Iran, according to Treasury Secretary Scott Bessent. Bessent stated that the US is now attempting to identify and target more crypto accounts and assets tied to Iran's leadership, particularly Supreme Leader Ayatollah Ali Khamenei.

The IRGC crypto wallet has processed over $3 billion in digital asset transactions since 2025, according to reports from blockchain analytics firms. The wallet is a key part of the group's funding network, which uses cryptocurrency to move funds outside the conventional banking system and evade international sanctions. The US authorities are targeting Iran's funding network, with Bessent stating that they have already identified a key financial operator related to Khamenei.

The freezing of the IRGC crypto wallet comes as part of a series of actions by the US against Iranian-linked cryptocurrencies. In recent months, the Treasury Department has sanctioned one of the largest cryptocurrency exchanges and seized over $1 billion worth of Iranian-linked crypto assets. The move is also seen in the context of Iran's worsening economic conditions, with the Iranian rial having fallen to a record low against the US dollar and inflation rates reaching 180%.