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

In its latest move to disrupt Iran's financial networks, the US Treasury Department has frozen $344 million in cryptocurrency. The freeze is part of the US government's 'Economic Fury' campaign, aimed at targeting the financial lifelines of the Iranian regime. 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 of $344 million in cryptocurrency. The action follows Tether's decision to blacklist two blockchain addresses holding $344 million in USDT. A US official stated that the sanctioned wallets have been found to have significant ties to the Iranian regime, including transactions with Iranian exchanges and connections to wallets associated with the Central Bank of Iran. The Iranian government has been attempting to use digital assets to conceal its cross-border transactions, and the US is taking steps to prevent this. The Treasury Department's OFAC is increasing pressure on the Iranian regime by targeting both traditional front companies and the use of digital assets. The US agency is working with blockchain analytics firms and financial institutions to track illicit flows tied to sanctioned entities.