US Treasury Freezes Over $130 Million in Tether Wallets Tied to Iran's Central Bank

The US Treasury Department has frozen more than $130 million in cryptocurrency held in Tron wallets linked to the Central Bank of Iran, marking a major escalation in financial pressure against Tehran. Treasury Secretary Scott Bessent announced the move on X, confirming that the Office of Foreign Assets Control (OFAC) had sanctioned multiple digital asset wallets connected to the Central Bank of Iran (CBI), according to BeInCrypto.

BeInCryptoScott Bessent Announces $130 Million Crypto Freeze Targeting Iran Central Bank

Blockchain investigator Specter identified the onchain data showing that Tether, the issuer of the USDT stablecoin, froze four wallets in compliance with the order, Cointelegraph reported. The freeze targeted funds held in Tether (USDT) on the Tron network. Bessent framed the action as part of a broader commitment to cutting off illicit finance, writing: "The Treasury is committed to disrupting Iran's illicit financial activities and abuse of digital assets." :: Cointelegraph

The freeze comes as Middle East hostilities intensify and a ceasefire between Israel and Hamas collapses, Free Malaysia Today reported. Crypto Briefing noted that the move further complicates prospects for a nuclear deal with Iran and highlights the geopolitical instability in the region. The US Treasury's action underscores the growing use of stablecoin controls as a tool for enforcing sanctions against state actors.

2 sources

Free Malaysia TodayUS sanctions Iran’s oil network, crypto as ceasefire collapsesCrypto BriefingUS freezes $131M in Iran-linked crypto amid rising Middle East tensions