The United States has seized about $1 billion worth of cryptocurrency tied to Iran, Treasury Secretary Scott Bessent said, describing the action as part of a broader campaign to cut off funding channels used by Tehran.

Speaking in an interview on Fox Business, Bessent said U.S. authorities had “grabbed the wallets” and seized cryptocurrency connected to Iran.

He said the effort falls under Operation Economic Fury, an administration initiative aimed at restricting Iran’s access to overseas revenue, banking networks and digital-asset infrastructure.

“In addition, Treasury has cracked down on Tehran’s global shadow banking networks; designated networks supplying weapons and other military components to Iran; sanctioned a corrupt…