Scott Bessent claims the USA recovered 1 billion dollars in cryptos linked to Iran

The US Treasury confirmed on Friday the seizure of about one billion dollars in cryptos linked to Iranian entities, some holders still unaware today that their wallets are empty. Scott Bessent’s announcement comes in a particular context: the two countries are said to be close to a peace agreement likely to ease tensions around the Strait of Hormuz.

The US Treasury recovers 1 billion dollars in cryptos linked to Iran

Scott Bessent chose the Reagan National Economic Forum 2026, in Simi Valley, California, to drop this information. In front of Larry Kudlow from Fox Business, he detailed the method: 

We simply took possession of their wallets. Some may be writing right now, without realizing that their wallet has been hacked.

However, the Treasury Secretary did not specify the exact dates of the operations, nor the cryptos involved. He also did not establish a link with the Hormuz Safe system, this maritime insurance platform based on bitcoin that the Fars agency, close to the Iranian government, presented this month as a solution to circumvent Western sanctions.

To understand the context, it must be remembered that the Strait of Hormuz remains at the heart of tensions: nearly 20% of the world’s oil passes through there, and Iran has controlled considerable leverage since the conflict began in February.

Iran and bitcoin, between circumvention and fraud

Iran’s strategy around bitcoin is not new. In April, the Financial Times already reported that Tehran was considering imposing transit fees in bitcoin on tankers crossing the strait, with the explicit argument that these payments “cannot be traced or confiscated due to sanctions.”

The argument has run its course. Meanwhile, scammers impersonating Iranian authorities targeted shipping companies, demanding fraudulent payments in bitcoin and USDT, according to Reuters. 

Moreover, last year, the Israeli National Bureau for Combating Terrorism Financing stated that the Revolutionary Guard Corps had received 1.5 billion dollars in USDT via transfers identified by authorities.

In short, these seizures testify to a reality Washington clearly seeks to impose: the blockchain does not offer the anonymity Tehran hoped for. The ongoing negotiations, reported by Axios as close to an agreement subject to Donald Trump’s approval, could change the diplomatic landscape. However, the crypto sanctions against Iran do not seem ready to ease. One billion dollars seized without a declaration of war is a clear message.