US Treasury Freezes Over $130 Million in Iran-Linked Crypto Wallets

The U.S. Treasury’s Office of Foreign Assets Control has sanctioned multiple cryptocurrency wallets connected to Iran, leading to the freeze of more than $130 million in assets tied to the Central Bank of Iran.

Treasury Targets Illicit Financial Activity

Treasury Secretary Scott Bessent announced the designations on social media, saying the wallets were sanctioned as part of ongoing efforts to disrupt Iran’s illicit financial dealings, including its use of digital assets. He said the department would continue tracking funds and blocking the Iranian regime’s access to proceeds from its revenue schemes.

Tether Freezes Linked Tron Wallets

Shortly before Bessent’s announcement, onchain analyst reported that Tether had frozen four Tron wallets holding a combined $131 million in USDT. Specter said the addresses were tied to the Islamic Revolutionary Guard Corps and the Central Bank of Iran, noting that most of the funds had been withdrawn from payment provider DTC Pay and exchange Bitso. The exact reason behind the blacklist wasn’t immediately clear.

Part of a Pattern of Large USDT Freezes

This action follows a string of similar freezes tied to OFAC sanctions or law enforcement requests. In April, Tether supported the freeze of more than $344 million in USDT across two Tron addresses after U.S. authorities flagged them for illicit activity. The company has said it works with over 340 law enforcement agencies across 65 countries, has supported more than 2,300 investigations, and has frozen over $4.4 billion in assets overall, including more than $2.1 billion linked to U.S. authorities.