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

The US Treasury Department has frozen $344 million in cryptocurrency as part of a broader campaign to disrupt Iranian financial networks. According to Treasury Secretary Scott Bessent, the Office of Foreign Assets Control is targeting multiple crypto wallets linked to Iran, resulting in the freeze. Bessent stated that the US will track and target all financial channels tied to the regime as part of its 'Economic Fury' campaign. This move follows Tether's decision to blacklist two blockchain addresses holding $344 million in USDT. The US official revealed that the sanctioned wallets had significant connections to the Iranian regime, including transactions with Iranian exchanges. Iran has been using digital assets to conceal cross-border transactions and bypass restrictions, prompting the US to increase pressure by targeting both traditional front companies and digital assets. The Treasury Department is working with blockchain analytics firms and financial institutions to track illicit flows tied to sanctioned entities.