U.S. Seizes Nearly $500 Million in Iranian Crypto Assets Under Operation Economic Fury

Washington, D.C. – The United States has seized approximately $500 million in cryptocurrency assets linked to Iran as part of Operation Economic Fury, a sweeping sanctions enforcement campaign ordered by the Trump administration, Treasury Secretary Scott Bessent confirmed on April 29, 2026.

Key Details of the Seizure

The operation has targeted Iranian state networks, including wallets associated with the Central Bank of Iran and the Islamic Revolutionary Guard Corps (IRGC). A pivotal action involved Tether freezing over $344 million in USDT across two Tron blockchain addresses on April 23, following directions from the U.S. Office of Foreign Assets Control (OFAC).

Bessent detailed the breakdown during an appearance on Fox Business: roughly $350 million in crypto assets seized directly under the operation, plus an additional $100 million from separate actions, totaling nearly half a billion dollars.4 Blockchain analytics firm Chainalysis verified on-chain patterns linking these funds to IRGC intermediaries.

This marks one of the largest crypto seizures tied to sanctions evasion, leveraging the transparency of blockchains and centralized stablecoins like USDT on the Tron network.

Broader Campaign and Economic Impact

Launched in March 2025, Operation Economic Fury extends beyond crypto to freeze Iranian bank accounts, retirement funds, and overseas real estate, aiming to sever Tehran’s financial lifelines amid escalating tensions. Bessent noted Iran’s currency has plummeted 60-70% against the dollar, plunging the regime into a “currency crisis.”

The Treasury emphasized the seizures target state and proxy networks, sparing ordinary retail users abroad, and are ultimately intended to benefit the Iranian people.

Strategic Context Amid Rising Tensions

The action coincides with reports of heightened U.S.-Iran frictions, including Iran’s reported agreement to surrender enriched uranium by April 30, 2026.Authorities continue to pursue additional assets within a larger ecosystem of Iranian-linked crypto flows estimated in the billions.

This enforcement underscores the U.S. government’s growing prowess in tracking illicit crypto transactions, combining regulatory pressure on exchanges with advanced on-chain forensics.

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