US Freezes $344 Million in Tether's USDT, Citing 'Economic Fury' Against Iranian Regime

In its latest move to disrupt Iranian financial networks, the US Treasury Department has frozen $344 million in cryptocurrency, as part of a broader initiative known as 'Economic Fury.' The department's Office of Foreign Assets Control (OFAC) has imposed sanctions on multiple cryptocurrency wallets linked to Iran, resulting in the freeze of $344 million in cryptocurrency. According to Secretary Bessent, the US will track and target all financial channels tied to the Iranian regime, as Tehran attempts to move funds outside the country. The sanctions follow Tether's decision to blacklist two blockchain addresses holding $344 million in USDT. A US official revealed that the sanctioned wallets had significant connections to the Iranian regime, including transactions with Iranian exchanges and links to the Central Bank of Iran. The move is part of a larger effort to increase pressure on Iran, which has been using digital assets to bypass restrictions and obscure cross-border transactions. The US Treasury Department is working with blockchain analytics firms and financial institutions to track illicit flows tied to sanctioned entities.