US Freezes $344M in Cryptocurrency Linked to Iran
- The US Treasury’s Office of Foreign Assets Control (OFAC) sanctioned several wallets associated with Iran, freezing $344 million in cryptocurrency.
- Treasury Secretary Scott Bessent stated the sanctions aim to disrupt Tehran’s financial operations and support for groups like the Islamic Revolutionary Guard Corps.
- Tether confirmed it had frozen over $344 million of its USDt (USDT) at the request of US authorities due to unlawful conduct.
- The sanctioned wallets were reportedly linked to Hizballah and involved in crypto transactions related to shipping tolls through the Strait of Hormuz.
- Reports indicate that Iran is charging ships in Bitcoin for passage, highlighting its increasing use of cryptocurrency for revenue generation.
These actions reflect ongoing tensions between the US and Iran, particularly regarding financial activities linked to military and political operations. The freezing of funds is part of a broader strategy to limit Iran’s ability to access international financial systems.
This situation underscores the significant role cryptocurrencies play in geopolitical conflicts, as demonstrated by the recent freeze of $344 million tied to Iranian wallets.(Source)
