U.S. Treasury Secretary Scott Bessent announced that the federal government is sanctioning multiple wallets linked to Iran as part of President Donald Trump’s ongoing efforts to increase economic pressure on the country amid an ongoing ceasefire. The move comes a day after Tether froze $344 million in USDT on Tron, which has been linked to Iranian sanctions, according to CNN citing an anonymous U.S. official.
Tether Freeze and OFAC Coordination
Tether noted that the $344 million USDT freeze was made in coordination with the U.S. Office of Foreign Assets Control (OFAC) and U.S. law enforcement. Two Tron addresses were affected: one held approximately $213 million in USDT while the other held $131 million. Both addresses were blacklisted at the smart contract level. According to Chainalysis, the two wallets were regularly active years ago.
Treasury Secretary Statement
“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 quoted by CNN.
Iran’s Cryptocurrency Activity
Earlier this month, the Financial Times reported that Iran was accepting Bitcoin as a form of payment for transit fees imposed on oil tankers passing through the Strait of Hormuz. Iran is known as a Bitcoin mining hub and has long turned to cryptocurrencies to sidestep economic sanctions imposed by the United States and its allies.
Chainalysis Estimates on Iranian Holdings
Chainalysis estimates that crypto holdings in Iran reached $7.8 billion in 2025, with Iran’s Islamic Revolutionary Guard Corps accounting for roughly half of those holdings. The firm notes the IRGC has become accustomed to making large transfers totaling several million dollars between private wallets.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
US Sanctions Iran-Linked Crypto Wallets; Tether Freezes $344M USDT in Coordination with OFAC
Gate News message, April 25 — The U.S. Treasury Department sanctioned multiple cryptocurrency wallets linked to Iran on April 24 as part of efforts to increase economic pressure on the country amid an ongoing ceasefire. Treasury Secretary Scott Bessent said the government will "follow the money
GateNews9h ago
Tether Mints $3B USDT in Past Week, Abraxas Capital Receives $2.89B
Gate News message, April 25 — According to Lookonchain, Tether minted $3 billion USDT over the past week (April 18–25). Abraxas Capital received $2.89 billion USDT from Tether Treasury during the same
GateNews11h ago
U.S. Sanctions Iran-Linked Crypto Wallets, Tether Freezes $344M USDT
U.S. Treasury Secretary Scott Bessent announced on Friday that the federal government is sanctioning multiple wallets linked to Iran as part of President Donald Trump's efforts to increase economic pressure on the country amid an ongoing ceasefire, according to CNN. The action follows Tether's
CryptoFrontier16h ago
U.S. Sanctions Iran-Linked Crypto Wallets; Tether Freezes $344 Million USDT
Gate News message, April 24 — U.S. Treasury Secretary Scott Bessent announced sanctions against multiple wallets linked to Iran on Thursday, as part of President Donald Trump's efforts to increase economic pressure on the country amid an ongoing ceasefire. "We will follow the money that Tehran is de
GateNews04-24 16:19
A former Huobi executive was acquitted by a Hong Kong High Court ruling that found the charges to be unsubstantiated; allegations of Tether dark-pool trading were not substantiated
On April 24, the Hong Kong High Court’s seven-member jury, by a majority vote, found not guilty of allegations against Chen Bo-liang, a former senior manager of cryptocurrency exchange Huobi (now renamed HTX), concerning accusations that he used a pseudonymous personal account in 2020 to trade on Huobi’s platform dark pool. The court also ruled not guilty on all charges, including six counts of accessing a computer with criminal or dishonest intent and one count of money laundering. The amount involved relates to 5 million Tether (USDT) tokens.
MarketWhisper04-24 06:51
Tether Mints $3 Billion USDT in Past Week, Abraxas Capital Receives $2.89 Billion
Gate News message, April 24 — Over the past week, Tether minted $3 billion USDT, with Abraxas Capital receiving $2.89 billion from Tether Treasury, according to on-chain monitoring data from Lookonchain.
GateNews04-24 06:23
