The US has frozen $344 million in cryptocurrency linked to Iran
The US has frozen $344 million in cryptocurrency which, according to the US authorities, is linked to Iran. This was reported by CNN.
US Treasury Secretary Scott Bessent stated that the department is imposing sanctions on a number of cryptocurrency wallets linked to Iran. “We will track funds that Tehran is attempting to move out of the country and target all financial channels linked to the regime,” he said.
Tether announced that it had assisted the US government in freezing $344 million in cryptocurrency at two addresses after receiving information from US authorities regarding activities linked to illicit operations.
According to a US official, the government has data linking these funds to Iran. This includes confirmed transactions with Iranian cryptocurrency exchanges and transactions via intermediary addresses that interacted with wallets linked to the Central Bank of Iran.
At the same time, it is noted that CNN has been unable to independently confirm the link between these accounts and Iran.
The US Treasury Department also stated that the Central Bank of Iran uses sophisticated methods to conceal its involvement in cross-border transactions involving digital assets. According to the US side, this is linked to attempts to stabilise the national currency and sustain international trade amid restrictions.
Iran’s mission to the UN declined to comment.
According to experts, countries under sanctions, notably Iran, Russia and North Korea, are increasingly using cryptocurrencies to generate revenue and circumvent restrictions.
According to Chainalysis, the volume of cryptocurrency assets in Iran reached $7.8 billion in 2025. Approximately half of these assets were controlled by the Islamic Revolutionary Guard Corps in the fourth quarter.
Chainalysis also noted that the frozen wallets had previously carried out regular large transactions worth tens of millions of dollars, consistent with the patterns of fund transfers observed in wallets linked to this group.
Daniel Tannenbaum, a senior fellow at the Atlantic Council, noted that freezing assets is significant but will not necessarily have a major impact on Iran’s ability to operate in a conflict environment.
According to him, Iran has been under sanctions for a long time and already has mechanisms in place to adapt. He also added that the country uses cryptocurrencies when dealing with partners outside the US financial system.
Later, the US Treasury Department also imposed sanctions on an oil refinery in China that had purchased billions of dollars’ worth of Iranian oil.
It was previously reported that in 2024, hackers stole around $90 million from Iran’s largest cryptocurrency exchange during Israeli strikes.
