US Freezes $344 Million in USDT, Citing Ties to Iran Regime

The US Treasury Department announced on Friday that it has frozen $344 million in cryptocurrency as part of a broader effort to disrupt financial networks linked to Iran. Treasury Secretary Scott Bessent stated that the Office of Foreign Assets Control is targeting multiple crypto wallets with ties to the Iranian regime. Bessent noted that the US will pursue all financial channels used by Tehran, as part of a campaign known as 'Economic Fury'. This move follows Tether's decision to blacklist two blockchain addresses holding $344 million in USDT. According to a US official, the sanctioned wallets have 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 its cross-border transactions. Authorities claim that Iran has been increasingly using crypto to circumvent restrictions, employing complex transaction patterns to obscure its involvement in cross-border payments and support trade flows under sanctions pressure. The Treasury Department's Office of Foreign Assets Control is taking aggressive action against both traditional front companies and the use of digital assets. The US agency is working with blockchain analytics firms and coordinating with financial institutions to track illicit flows tied to sanctioned entities.