US Sanctions Iran-Linked Crypto Wallets; Tether Freezes $344 Million in USDT

Gate News message, April 26 — U.S. Treasury Secretary Scott Bessent announced that the federal government is sanctioning multiple wallets linked to Iran as part of efforts to increase economic pressure on the country. The move follows Tether's decision on Thursday, April 24, to freeze $344 million worth of USDT in coordination with the U.S. Office of Foreign Assets Control (OFAC) and U.S. law enforcement.

Two Tron addresses held the frozen USDT: one contained approximately $213 million while the other held $131 million. Both addresses were blacklisted at the smart contract level. "We will follow the money that Tehran is desperately attempting to move outside of the country and target all financial lifelines tied to the regime," Bessent said in a statement.

The sanctions reflect broader U.S. efforts to counter Iran's use of cryptocurrencies to circumvent economic restrictions. Earlier this month, Iran was reported to be accepting Bitcoin as payment for transit fees on oil tankers passing through the Strait of Hormuz. According to Chainalysis, Iran's total crypto holdings reached $7.8 billion in 2025, with the Islamic Revolutionary Guard Corps accounting for roughly half. The IRGC has become known for making large transfers, often totaling several million dollars between private wallets.