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

In its latest move to disrupt Iran's financial networks, the US Treasury Department has frozen $344 million in cryptocurrency. According to Treasury Secretary Scott Bessent, the Office of Foreign Assets Control (OFAC) has sanctioned several crypto wallets linked to Iran, resulting in the freeze. Bessent stated that the US will track and target all financial channels tied to the Iranian regime as part of its 'Economic Fury' campaign. The freeze follows Tether's decision to blacklist two blockchain addresses holding $344 million in USDT. US officials claim that the sanctioned wallets have ties to the Iranian regime, including transactions with Iranian exchanges and connections to the Central Bank of Iran. The move is part of a broader effort to counter Iran's use of 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 and disrupt illicit flows tied to sanctioned entities.