US Freezes $344 Million in USDT, Citing Iran Sanctions and 'Economic Fury' Campaign

In its latest move to disrupt Iran's financial networks, the US Treasury Department has frozen $344 million in cryptocurrency, citing links to the Iranian regime. According to Treasury Secretary Scott Bessent, the freeze is part of a broader effort, dubbed 'Economic Fury,' aimed at choking off all financial lifelines to the regime. 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. As Iran increasingly turns to cryptocurrency to bypass restrictions, the US is stepping up its efforts to track and disrupt illicit flows, working closely with blockchain analytics firms and financial institutions.