U.S. Treasury Secretary Scott Bessent, speaking on Fox Business, revealed details of a sweeping campaign against Iran: the department has seized nearly $500 M in crypto assets held overseas. The campaign is called Operation Economic Fury — Trump launched it in March 2025.
“Funds are being transferred under U.S. government control in the interests of the Iranian people,” officials said.
Blockchain Won’t Save It
Digital assets have become not a secondary target, but one of the campaign’s main priorities. Alongside freezing bank accounts and seizing overseas real estate owned by Iranian officials, the Treasury is systematically tracking and confiscating crypto assets — including those officials held abroad as retirement savings.
“The goal of the operation is to leave Tehran without money for its military and for financing proxy groups around the world,” Bessent said.
Pressure Is Rising
Three weeks ago, Trump personally ordered pressure to increase. The Treasury sent warnings to buyers of Iranian oil: countries that continue doing business with Tehran will face secondary sanctions targeting their banks and entire industries. At the same time, the U.S. Navy is effectively blocking Iranian oil exports through the Strait of Hormuz.
The seizure of crypto assets follows a strategy U.S. authorities have been refining for years: modern sanctions pressure is impossible without blocking crypto channels that sanctioned regimes use to bypass traditional financial restrictions.
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