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

The US Treasury Department announced on Friday a $344 million cryptocurrency freeze as part of its efforts to disrupt Iranian financial networks. The freeze is the result of the Treasury's Office of Foreign Assets Control (OFAC) sanctioning multiple crypto wallets linked to Iran. Treasury Secretary Scott Bessent stated that the US will target all financial channels tied to the Iranian regime as part of a broader campaign known as 'Economic Fury.' The move follows 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 Iranian government has been attempting to use digital assets to conceal cross-border transactions, and the US is working to combat this by targeting both traditional front companies and digital asset usage. The Treasury Department is collaborating with blockchain analytics firms and financial institutions to track illicit flows tied to sanctioned entities.