US Freezes $344 Million in USDT, Citing Ties to Iran's Financial Networks

The US Treasury Department has taken action to disrupt financial networks linked to Iran, resulting in the freeze of $344 million in cryptocurrency. According to Treasury Secretary Scott Bessent, the Office of Foreign Assets Control (OFAC) has sanctioned multiple crypto wallets with ties to Iran. Bessent stated that the US will target all financial channels supporting the Iranian regime as part of its 'Economic Fury' campaign. The move follows Tether's decision to blacklist two blockchain addresses holding $344 million in USDT. US officials claim that the sanctioned wallets have links to the Iranian regime, including transactions with Iranian exchanges and connections to the Central Bank of Iran. Iran has been using digital assets to bypass restrictions and obscure cross-border transactions, prompting the US to increase pressure on both traditional and digital channels. The Treasury Department is working with blockchain analytics firms and financial institutions to track illicit flows tied to sanctioned entities.