Treasury Secretary confirms direct takeover of crypto wallets tied to Iran, citing strategic missteps by Tehran.
The U.S. has seized approximately $1 billion in cryptocurrency assets linked to Iran, according to Treasury Secretary Scott Bessent. The assets were taken through direct wallet seizures, rendering them inaccessible to their previous owners.
Bessent noted that Iran’s recent attack on Gulf Cooperation Council infrastructure facilitated the move, as it prompted Gulf allies to open their banking systems for greater scrutiny. The seizure marks a significant escalation in U.S. efforts to curb illicit financial flows tied to Iran.
No immediate market reaction was detailed, but the move underscores heightened enforcement against crypto-based sanctions evasion.