The United States has seized nearly $500 million in cryptocurrency linked to Iranian networks, Treasury Secretary Scott Bessent said, in a major crackdown on illicit digital finance.
The action is part of Operation Economic Fury, led by the U.S. Department of the Treasury, which targets financial channels used to bypass traditional banking systems.
As part of the operation, the Office of Foreign Assets Control (OFAC) froze around $344 million in Tether (USDT) tied to wallets linked to Iran. Authorities also sanctioned several crypto addresses connected to the network.
Blockchain investigators said the wallets were involved in large USDT transfers and were allegedly linked to Iran’s Islamic Revolutionary Guard Corps, including its Qods Force, as well as Hezbollah.
Bessent said the goal is to disrupt financial routes used to fund military operations and regional groups. He added that the U.S. will continue to track and block illicit crypto activity.
The move shows Washington’s increasing focus on cryptocurrency as part of its sanctions enforcement strategy.
