On Tuesday, the US Treasury took action to freeze more than $130 million in cryptocurrency wallets connected to the Central Bank of Iran. Most of these assets consist of Tether's USDT stablecoin stored on the Tron network.
Treasury Secretary Scott Bessent shared the news via a post on X, highlighting the initiative as part of the ongoing effort to cut off the Iranian government from revenue gained through illicit activities. 'The US Treasury is committed to disrupting and degrading Iran’s illicit financial activities, including its abuse of digital assets,' Bessent stated.
According to blockchain investigator Specter, four Tron wallets were flagged earlier that day, revealing approximately $131 million in USDT had been frozen. This recent action is tied to the ongoing Operation Economic Fury, a campaign launched by the US in March 2022 to increase financial pressure on Iran.
Last month, Tether was instructed to lock nearly $344 million in USDT from two wallets, with Bessent announcing earlier this year that around $1 billion in Iranian crypto assets had already been seized. The Treasury has also sanctioned several Iranian crypto exchanges as part of its strategy.
This decisive measure comes amidst heightened tensions, as a ceasefire between the US and Iran has deteriorated, leading to renewed naval blockades and military strikes from the US, alongside Iran's drone attacks on a US-operated air base in Jordan.
This article is for informational purposes only, not financial advice.
