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. According to Treasury Secretary Scott Bessent, the Office of Foreign Assets Control (OFAC) has imposed sanctions on multiple cryptocurrency wallets linked to Iran, resulting in the freeze. Bessent stated that the US will target all financial channels supporting the Iranian regime as part of its 'Economic Fury' campaign. The action follows Tether's decision to blacklist two blockchain addresses holding $344 million in USDT. US officials claim the sanctioned wallets have significant ties 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 conceal cross-border transactions, and the US is increasing pressure by targeting both traditional front companies and digital asset usage. The US is working with blockchain analytics firms and financial institutions to track illicit flows tied to sanctioned entities.