Israel seizes 187 crypto wallets allegedly linked to Iran

Israel’s Ministry of Defense ordered the seizure of 187 crypto wallets that it claims to have ties to Iran’s Islamic Revolutionary Guard Corps. The wallets reportedly received $1.5 billion in funds.

The government document signed by the Minister of Defense lists all 187 wallet addresses that it believes belong to the Islamic Revolutionary Guard Corps or IGRC. The IGRC is Iranian military and security organization formed after the 1979 revolution to protect the regime and the integrity of the Islamic Republic.

The IGRC is labeled as a terrorist organization by the United States, the European Union, and Israel as well as other countries.

“I hereby order the seizure of the property and of any other virtual asset that is found or will be found in the wallets, as stated, in order to confiscate the same subject to the provisions of section 66 of the Law,” wrote the Ministry of Defense in the document.

In response to the published document, blockchain monitoring firm Elliptic looked into the wallets to confirm how much combined wealth is inside the 187 wallets and whether they are traceable. The firm found that out of the 187 wallets listed, around 39 were “blacklisted” by Tether since September 13, 2025.

The firm also reportedly found that only a fraction of the $1.5 billion funds are still held in the wallets, specifically about $1.5 million USDT (USDT) is left in these addresses.

Israel and Iran’s conflict through crypto

Even before Israel ordered for the seizure of crypto wallets linked to the Iranian military group, the IRGC has been reportedly using cryptocurrency to fund it operations. Last Friday, the U.S. Justice Department announced the seizure of $584,741 in USDT from Iranian national Mohammad Abedini’s un-hosted crypto wallet.

Abedini is the founder of a business that manufactures navigation systems allegedly used in the IRGC military drone program, including the Shahed UAV. Not only that, Abedini was also charged in December 2024 for aiding the IRGC Aerospace Force, which is the strategic missile, air and space force within the IRGC, by providing material support.

Within the same period, the U.S. added more crypto wallets to its sanctions list. These wallet addresses received up to $332 million in USDT and were linked to an individual named Sa’id Ahmad Muhammad al-Jamal. He was sanctioned for distributing millions of dollars to the Houthi militant group, Ansarallah, in cooperation with senior officials in the IRGDC-Qods Force.

On the other hand, in June 2025 Iranian crypto exchange Nobitex was hacked by a pro-Israel group. The exchange lost more than $90 million in stolen funds, which were later sent to addresses that swore resistance against IGRC.

Elliptic and other monitoring firms claims to have uncovered ties linking Nobitex to the IRGC, including through its use by sanctioned IRGC operatives accused of ransomware operations.