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US Treasury Secretary Scott Bessent said Washington has seized nearly $1 billion in Iranian cryptocurrency assets under Operation Economic Fury, a sanctions and enforcement campaign aimed at Tehran’s financial networks.
Speaking on Fox Business at the Reagan National Economic Forum, Bessent said US authorities had taken control of crypto wallets linked to Iran. He also said Washington is working with European and Gulf allies to freeze assets, identify overseas properties and disrupt funding channels tied to Iranian officials.
Bessent said the US had seized “about a billion dollars” in Iran-linked crypto assets. He described the action as a direct move against wallets tied to Tehran, though he did not publicly share wallet addresses, transaction details or a full asset breakdown.
“We have seized about a billion dollars of their crypto. Just outright grabbed the wallets,” Bessent said. This marks one of the public claims from the Treasury Secretary about crypto asset seizures linked to Iran.
However, Bessent’s comments left some details unclear. He did not state which agencies carried out the seizure, which tokens were involved, or when the assets were taken. He also did not say whether the figure covered frozen assets, seized wallets, or both.
According to his remarks, the seizure forms part of Operation Economic Fury. The campaign began in March 2025 and targets Iranian financial channels through sanctions, asset freezes and cooperation with foreign partners.
Bessent said the economic campaign works alongside recent military pressure in the region. He claimed Iran is now ‘at the end of their tether’ financially after weeks of military action and tighter sanctions enforcement.
“I think between five and a half-six weeks of an incredibly successful military campaign and then Operation Economic Fury, where we have really cut them off… they are at the end of their tether now financially,” he said.
The Treasury Secretary also claimed Iran’s financial pressure has reached its security forces and domestic economy. He alleged that some security personnel are not being paid, while inflation has risen sharply.
Meanwhile, Bessent accused Iranian officials of using food vouchers and internet restrictions as pressure increases. These claims were made during the interview, but he did not provide public documents to support each detail.
Bessent also said Iranian leaders had previously moved between $400 million and $500 million per month through financial channels now under pressure. He said US enforcement efforts aim to stop those flows and track funds Tehran tries to move abroad.
Bessent said Washington is working with European allies to identify and seize overseas assets linked to Iranian officials. He referred to villas, houses and other properties that US officials believe connect to Tehran’s leadership network.
“We are working with our allies all over Europe to grab villas and houses and properties,” he said. He also described the assets as ‘money that’s stolen from the Iranian people.’
Additionally, Bessent said Gulf cooperation increased after Iran’s regional attacks. He said several Gulf Cooperation Council countries became more willing to share banking and oil-related information with Washington.
“They made my job so much easier because before, many of our great GCC Gulf allies were a little less than transparent about their banking system,” he said.
The Treasury Secretary also addressed talks with Iran. He said the US is dealing with a changed leadership structure after recent military action, while describing Iran’s power system as split between clerics and the Islamic Revolutionary Guard Corps.
“We did not have regime change, but we changed the regime,” Bessent said. He added that negotiations must account for both Iran’s clerical leadership and the IRGC, which he called ‘a thug autocracy.’
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