Tether Fuels Iran’s $500M Sanction Evasion

Iran’s Central Bank Acquires $507M in USDT to Evade Sanctions

• Iran’s central bank accumulated over $507 million in USDT to bypass sanctions and access offshore dollar liquidity.
• The strategy involved a network of wallets linked to the Central Bank of Iran, using Nobitex, Iran’s largest crypto exchange.
• Two significant USDT purchases were made in April and May 2025, paid with Emirati dirhams.
• The funds aimed to stabilize the collapsing rial amidst blocked access to SWIFT and US dollar clearing systems.
• Tether froze $37 million in wallets connected to the central bank in June 2025.

Iran’s central bank strategically acquired over $507 million in USDT through Nobitex, aiming to stabilize its currency amid international sanctions. Tether later froze $37 million linked to these efforts.