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

In its latest move to disrupt Iranian financial networks, the US Treasury Department has frozen $344 million in cryptocurrency. This action is part of the US government's broader 'Economic Fury' campaign. According to Secretary Bessent, the Treasury's Office of Foreign Assets Control (OFAC) has sanctioned several crypto wallets linked to Iran, resulting in the freeze of $344 million in cryptocurrency. The US is committed to tracking and targeting all financial channels tied to the Iranian regime, including those using digital assets to circumvent restrictions. This comes after stablecoin issuer Tether blacklisted two blockchain addresses holding $344 million in USDT. The sanctioned wallets have been found to have significant connections to the Iranian regime, including transactions with Iranian exchanges and links to the Central Bank of Iran. Iran has been increasingly using cryptocurrency to bypass sanctions and obscure its cross-border transactions. The US Treasury Department is working with blockchain analytics firms and financial institutions to track and disrupt these illicit flows.