The move comes as part of the country’s broader effort to disrupt alleged terrorist financing through digital assets.
In a document outlining the order, the ministry’s National Bureau for Counter Terror Financing said it is “convinced that the cryptocurrency wallets” belong to the IRGC. The bureau added that they are “used for the perpetration of a severe terror crime.”
Tracking Alleged IRGC Funds
The IRGC is designated as a terrorist organization by the United States, the European Union, and Israel. According to Elliptic, the wallets identified in the seizure have historically received $1.5 billion in Tether, the popular USDT stablecoin. Elliptic co-founder Tom Robinson cautioned, however, that the company cannot independently confirm ownership of the wallets. He added that the wallets currently hold only $1.5 million, a small fraction of the total funds that have passed through them over time.
🇮🇱 LATEST: Israel seized 187 crypto wallets linked to Iran’s IRGC that reportedly moved $1.5B in $USDT.
Only about $1.5M remains across the wallets, TechCrunch reports. pic.twitter.com/8xxzCTEvS0
— Cointelegraph (@Cointelegraph) September 16, 2025
Experts suggest the funds may have moved through multiple exchanges or intermediaries. Elliptic noted that some addresses could be part of the wallet infrastructure used by cryptocurrency services. It serves many clients rather than a single entity. This highlights the complexity of attributing crypto holdings to specific groups. It is a challenge that has become increasingly relevant as digital currencies play a larger role in global finance.
Digital Finance and Sanctions Evasion
Analysts have long suggested the IRGC uses cryptocurrencies to evade sanctions. Amir Rashidi, director of digital rights and security at the Iran-focused nonprofit Miaan Group, suggested that Israel may have obtained information through hacking or other intelligence operations targeting Iran’s infrastructure. He noted that many of the wallets could involve exchanges or companies indirectly connected to the IRGC, similar to how traditional banks and financial institutions may handle sanctioned clients.
The Israeli government ordered the seizure of 187 wallets it said belong to the IRGC, which have over time received $1.5 billion in crypto, according to a blockchain analysis firm. https://t.co/HhIZSIK6hm
— TechCrunch (@TechCrunch) September 15, 2025
So, this incident reflects a growing trend in which governments and regulators monitor cryptocurrency activity to prevent illicit finance.
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