- US Treasury ordered the freezing of over $130 million in cryptocurrency tied to Iran amid escalating Middle East hostilities
- Tether froze four Tron wallets holding $131 million in USDT, which Treasury Secretary Scott Bessent confirmed were linked to the Central Bank of Iran
- The freeze follows a collapse in the US-Iran ceasefire, with both sides launching military strikes
- This action is part of Operation Economic Fury, which has already seized roughly $1 billion in Iranian crypto assets
US Treasury Secretary Scott Bessent confirmed on Tuesday that the US government ordered the freezing of over $130 million in cryptocurrency held in wallets linked to Iran, as hostilities escalated in the Middle East. Blockchain investigator Specter identified onchain data showing Tether froze four Tron wallets containing $131 million worth of USDT, with Bessent confirming on X that the wallets were tied to the Central Bank of Iran.
“US Treasury is committed to disrupting and degrading Iran’s illicit financial activities, including its abuse of digital assets,” Bessent said. “We will continue to aggressively follow the money and deny the Iranian regime access to the proceeds of its illicit revenue schemes.”
The asset freeze coincides with a collapse in the ceasefire between the US and Iran. The US renewed its blockade of Iranian ports, while US Central Command announced a new wave of strikes on Iran. Meanwhile, Iran’s military claimed it carried out drone strikes against US military facilities at Jordan’s Al Azraq Air Base.
This move follows a similar freeze in April, when Tether froze over $344 million in USDT at the request of US authorities. In May, Bessent said the US has seized around $1 billion in Iranian crypto assets as part of Operation Economic Fury, according to a Fox Business report.
“Through Economic Fury, the Treasury Department is disrupting the foreign procurement networks that support the Iranian military’s efforts to acquire weapons,” Bessent said in a June statement. “Treasury has frozen the Iranian regime’s assets, severely disrupted its economy, and dismantled the Iranian war machine.”
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