Israel Seizes Crypto Wallets Linked to Iran’s IRGC
Israel seized 187 crypto wallets tied to Iran’s IRGC, once holding $1.5B in USDT—only $1.5M remains, according to reports.
- Israel confiscated 187 crypto wallets linked to Iran’s IRGC
- Wallets reportedly moved $1.5B in USDT over time
- Only $1.5M remains in seized wallets, says TechCrunch
Israel has seized 187 cryptocurrency wallets allegedly connected to Iran’s Islamic Revolutionary Guard Corps (IRGC), in a significant move to curb the use of digital assets in financing terrorism. According to a report from TechCrunch, these wallets collectively processed over $1.5 billion in USDT (Tether) over time.
The seizure was carried out by Israel’s National Bureau for Counter Terror Financing (NBCTF), which has been increasingly active in targeting crypto assets tied to hostile groups and activities. These wallets were flagged for being used in illicit financial operations and allegedly helping the IRGC bypass international sanctions.
From Billions to Just Millions
Despite the huge sums moved through the wallets in the past, the actual amount recovered paints a very different picture. Only about $1.5 million remains across the seized addresses, as per blockchain analytics and Israeli officials.
This suggests that most of the funds were already transferred or used before the wallets were frozen. Analysts believe this highlights the difficulty in tracing and reclaiming crypto funds after they’ve moved through multiple wallets or exchanges, especially when mixers or privacy tools are used.
Growing Use of Crypto in Sanctions Evasion
The IRGC is a powerful military and political organization in Iran, designated as a terrorist entity by several countries, including the U.S. The group is known to be involved in various illicit activities worldwide, including efforts to fund proxy groups through hidden financial networks.
Cryptocurrencies like USDT provide a fast and semi-anonymous way to move money across borders. This has made them an increasingly attractive tool for groups looking to evade financial restrictions. However, governments are responding with more advanced tracking and enforcement strategies, like this Israeli seizure.
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