U.S. Treasury Reports $1 Billion Seizure of Iranian Crypto

The claim is supported by official statements made by U.S. Treasury Secretary Scott Bessent during the Reagan National Economic Forum in late May 2026. According to reports from Decrypt and CoinPedia, Bessent explicitly stated that the U.S. government had 'outright grabbed' wallets containing roughly $1 billion in digital assets. This figure represents a significant escalation from previous enforcement actions, such as the $500 million in assets reported seized in April 2026. The Treasury Department indicated that these seizures are intended to restrict Tehran's ability to finance government activities and military proxies.

Bessent noted that the enforcement efforts are so direct that some account holders may not yet realize their digital wallets have been compromised. The seizures are linked to 'Operation Economic Fury,' a Trump administration initiative launched in March 2026 to target Iranian financial lifelines across various sectors, including banking and real estate. While Iran has reportedly attempted to circumvent these pressures by proposing Bitcoin-based maritime insurance and transit fees for the Strait of Hormuz, the U.S. Treasury maintains that blockchain transactions remain traceable and subject to federal seizure.

Source quality: The reports cite direct quotes from the U.S. Treasury Secretary at a public economic forum and provide specific context regarding the operation name and previous seizure amounts.