US Imposes $344 Million USDT Freeze on Iran-Linked Assets Amid 'Economic Fury' Campaign

In its latest move to disrupt Iran's financial operations, the US Treasury Department has frozen $344 million in cryptocurrency, targeting multiple crypto wallets linked to the Iranian regime. According to Treasury Secretary Scott Bessent, the Office of Foreign Assets Control (OFAC) is taking action as part of the 'Economic Fury' campaign, aiming to track and disrupt Tehran's attempts to move funds outside the country. The freeze 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. As Iran increasingly turns to cryptocurrency to evade restrictions, the US is intensifying its efforts to combat these attempts, working closely with blockchain analytics firms and financial institutions to track illicit flows.