U.S. Freezes $344 Million in Cryptocurrency Related to Iran

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On April 25, U.S. Treasury Secretary Scott Bessent stated that the Treasury is sanctioning multiple wallets associated with Iran, aiming to track and combat all financial lifelines related to the regime. Tether previously announced it has assisted the U.S. government in freezing $344 million worth of cryptocurrency across two addresses. Data from Chainalysis indicates that the activity patterns of these wallets align with the on-chain fund flow characteristics of the Islamic Revolutionary Guard Corps (IRGC) wallets. U.S. officials noted that blockchain analysis revealed that the relevant funds were transacted through intermediary addresses linked to the Central Bank of Iran’s wallets, intended to evade sanctions and facilitate international trade. By 2025, Iran’s cryptocurrency holdings are projected to reach $7.8 billion, with the IRGC accounting for about 50% of the holdings in the fourth quarter of last year.

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