US Freezes $344 Million in Tether's 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, as part of a broader campaign known as 'Economic Fury'. The freeze is linked to multiple crypto wallets tied to Iran, which were sanctioned by the Treasury's Office of Foreign Assets Control (OFAC). According to Treasury Secretary Scott Bessent, the US will track and target all financial channels used by Tehran, in an effort to choke off the regime's access to funds. The move follows Tether's decision to blacklist two blockchain addresses holding $344 million in USDT. US officials claim the sanctioned wallets have links to the Iranian regime, including transactions with Iranian exchanges and connections to the Central Bank of Iran. The Iranian government has been using digital assets to disguise its cross-border transactions, but the US is increasing pressure by targeting both traditional front companies and the use of digital assets. The Treasury Department is working with blockchain analytics firms and coordinating with financial institutions to track illicit flows tied to sanctioned entities.