Dollars for Intelligence, Tomans for Captures: The US-Iran Bounty War

Since the beginning of the 40-day war, the confrontation between the United States and the Islamic Republic has expanded beyond missiles, drones, and airstrikes into financial calls and bounty announcements, a duel in which one side offers millions of dollars for actionable intelligence, while the other promises billions of Tomans for killing or capturing American military personnel.

This report reviews the financial rewards offered by both sides of the conflict: Washington paying for intelligence, and Tehran for capture and killing.

The US Department of State announced a reward of up to $15 million for information regarding the financial network linked to the Islamic Revolutionary Guard Corps Aerospace Force (IRGC-ASF). On the same day, statements from the spokesperson for the Islamic Republic of Iran Army were made public, offering 5 billion Tomans to any Iranian citizen who captures an American military personnel entering Iranian territory or surrenders their body, a bounty doubled for female captors.

Since late February, senior Islamic Republic officials, defense contractors supplying the IRGC, and accused cyber operatives have regularly appeared in US bounty announcements. In Iran, bounty promises target US troops, alongside promotional campaigns and fundraising initiatives offering rewards for the assassination of US President Donald Trump. However, these financial figures vary in status: some are official state rewards, others remain non-binding proposals or claimed pledges, and some represent pre-war bounties recirculated amid ongoing hostilities.

What Washington Wants in Exchange for Cash

In its latest “Rewards for Justice” notice, the State Department named Abdollah Mehrabi, head of the IRGC Aerospace Force Self-Sufficiency Jihad Organization; Ali Asghar Nowrazi, head of the IRGC Cooperative Foundation; and Ahmad Jafarabadi, identified as a senior IRGC Aerospace Force official involved in operational and logistical management. The US offered up to $15 million for intelligence leading to the disruption of IRGC-ASF financial mechanisms, including potential relocation to a safe haven for informants. This figure represents the maximum aggregate bounty cap rather than individual payouts or rewards for lethal action.

Approximately two weeks after the outbreak of conflict in mid-March, the US announced rewards of up to $10 million for information on 10 senior Islamic Republic officials. News reports identified figures on this list, including Mojtaba Khamenei, the current Supreme Leader of the Islamic Republic; Ali Larijani, then-Secretary of the Supreme National Security Council; Esmaeil Khatib, Intelligence Minister under Ebrahim Raisi; and Interior Minister Eskandar Momeni, with certain officials designated strictly by official title.

Equipment suppliers and financial networks funding the IRGC were also designated. In July, Behrouz Derakhshandeh, technical director of “Beh Zhoule Pars,” and Sara Nemati, the firm’s commercial manager, were added to a $15 million reward offer. Records indicate that the core bounty was originally established before the war, targeting board members Mehdi Nili Ahmadabadi and Mehdi Farshchi over allegations of procuring sensitive missile-manufacturing components.

A similar $15 million reward targeting the “Kimiya Part Sivan” drone network (known as KIPAS) was recirculated to disrupt its underlying financial structure. Like other listings, this bounty represents a pre-existing program reissued under current operational conditions.

In the cyber domain, the US Department of Justice issued new indictments against 17 Iranian nationals associated with the “Mabna Institute.” Rewards of up to $10 million were designated for location information on five key suspects: Behzad Mesri, Mojtaba Qaleh-Kohi, Arman Kohzadian, Keywan Fiaz, and Saber Shahbazi, who are accused of conducting state- cyber espionage against international universities and private corporations.

US bounty structures vary by agency and target. The Federal Bureau of Investigation (FBI) maintains a $200,000 reward for information leading to the arrest of Monica Witt, a former US counterintelligence officer accused of defecting to Iran. Separately, the State Department offers up to $10 million for information regarding Amir Yaryab, identified as an IRGC cyber operations manager. In all instances, actionable information remains the primary condition for disbursement.

The Army’s Promise: Deliver a Captive or a Corpse

On the side of the Islamic Republic, the Iranian military’s promises explicitly involve “killing” and “capture.” Amir Hatemi, Commander-in-Chief of the Army, stated that any individual who “kills” or “captures and surrenders” an American military personnel would receive $30,000 or 5 billion Tomans. According to reports , Hatemi framed the payout as being backed by participants in a “financial jihad” and guaranteed by the army. He also designated a double reward payout for women.

Mohammad Akraminia, a spokesperson for the army, reiterated the Toman figure. In released reports of his statements, the reward of 5 billion Tomans was declared for capturing or surrendering the corpse of an American military member entering Iranian territory, with 10 billion Tomans set for women. However, he extended this reward promise to citizens of neighboring countries as well.

Billions Shrinking Against the Dollar

Under current conditions, 5 billion Tomans is no longer equivalent to $30,000. With free-market dollar exchange rates reaching 254,470 Tomans, 5 billion Tomans equals approximately $19,650, while 10 billion Tomans translates to roughly $39,300. If payments are issued based on fixed Toman amounts, the real foreign currency value of the army’s bounty drops by roughly one-third compared to the $30,000 baseline declared in August.

At this exchange rate, the $15 million maximum threshold of the US bounty program equals roughly 3,817 billion Tomans, more than 760 times the army’s 5 billion Toman reward. This comparison highlights the structural scale of both promises rather than finalized government expenditures. The US announcement sets a conditional ceiling for actionable information, whereas the Iranian military’s offer applies to physical actions against combatants.

While initial headlines citing “billions of Tomans” may appear substantial at first glance, currency conversion exposes the divide. As exchange rates rise, the international value of a fixed Toman reward steadily depreciates, whereas the Toman value of US dollar rewards rises exponentially.

Claimed Millions: Where Is the Money?

The Islamic Republic has also cited multi-million-dollar figures, though their underlying funding remains dubious. A campaign site titled “International Campaign for the Trump Assassination Reward” claimed support from 290,000 individuals totaling $25 million. Investigative reports revealed that these funds were never deposited; the displayed sum merely aggregated unverified user pledges rather than representing a capitalized $25 million fund.

Ebrahim Azizi, Chairman of the Iranian Parliament’s National Security and Foreign Policy Commission, similarly referenced a projected 50 million euro reward for the assassination of Trump under a draft “Countermeasure Bill.” However, Azizi’s statement remained confined to a proposed legislative framework, with no public records confirming final parliamentary passage or budgetary allocation.

Subsequent threats targeted Barron Trump, the son of the US President. Video broadcasts carried by IRGC-affiliated media channels and State TV Network 3 claimed a $10 million bounty for his assassination, a claim that independent observers note remains unverified by official funding documentation.

Currency conversions clarify the stark divergence between both sides. In its official military offer, the Islamic Republic presents a payout significantly lower than the multi-million-dollar ceilings established by US reward programs, while ongoing currency depreciation continually erodes the real value of Toman-denominated promises. For larger cited sums, clear proof of escrow or budgetary authorization remains absent. Yet the fundamental contrast persists in the calls: one side pays millions for information; the other promises money for capture and killing.

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