U.S. Freezes Nearly $500 Million in Iran-Linked Crypto

The United States has frozen nearly $500 million in cryptocurrency linked to Iran, intensifying enforcement against digital-asset networks tied to sanctions evasion and alleged military financing.

Treasury said June 2 that enforcement actions involving Iranian digital-asset exchanges resulted in nearly $500 million in regime-linked crypto being frozen. Treasury Secretary Scott Bessent separately said May 29 that the United States had seized about $1 billion in Iranian crypto.

The available figures do not establish that a new $1 billion seizure was announced Oct. 9, or that all of the assets are held in U.S. government custody.

A Sept. 14 forfeiture case sought control of crypto valued at more than $61 million that prosecutors alleged was tied to Iran’s military oil trade. A federal complaint alleged that Iranian actors laundered more than $1.5 billion in oil proceeds and commonly used Tether (USDT) to move the funds.

The actions target Iranian exchanges, sanctions-evasion networks and cryptocurrency flows linked to oil revenue and the Islamic Revolutionary Guard Corps.