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

The US Treasury Department announced on Friday that it has frozen $344 million in cryptocurrency as part of a broader effort to disrupt financial networks linked to Iran. According to Treasury Secretary Scott Bessent, the Office of Foreign Assets Control (OFAC) has sanctioned several crypto wallets tied to Iran, resulting in the freeze of a substantial amount of cryptocurrency. Bessent stated that the US will closely track and target all financial channels supporting the Iranian regime, as part of a campaign dubbed 'Economic Fury'. This action follows Tether's decision to blacklist two blockchain addresses holding $344 million in USDT. A US official revealed that the sanctioned wallets had significant connections to the Iranian regime, including transactions with Iranian exchanges and links to the Central Bank of Iran. The Treasury Department noted that Iran has been increasingly using digital assets to conceal its cross-border transactions, and authorities are working to counter this by targeting both traditional front companies and the use of digital assets. The US agency is collaborating with blockchain analytics firms and financial institutions to track and disrupt illicit flows tied to sanctioned entities.