US Seizes $500M in Iranian Crypto Assets Amid Economic Pressure Campaign

The US Treasury Department has made a significant move in its economic pressure campaign against Iran by seizing nearly $500 million in Iranian crypto assets.

Operation Economic Fury has been targeting Tehran's financial lifelines, freezing bank accounts, restricting oil revenue, and weakening the regime's ability to fund its military and proxy networks. According to Treasury Secretary Scott Bessent, this effort has moved beyond just banking and cryptocurrency, with a warning issued to buyers of Iranian oil that secondary sanctions will be used against companies, banks, and industries that support these transactions.

The seizure is in addition to $344 million previously frozen in USDT last week as part of the Treasury's campaign to disrupt digital asset channels used by Tehran. The funds were linked to Iran through transactions involving Iranian exchanges and intermediary addresses connected to the Central Bank of Iran associated wallets, according to a US official.

The Treasury Department has been using cooperation from companies like Tether to carry out these actions and to enforce the sanctions against Iran's cryptocurrency activities.