🇺🇲 US freezes $344M in crypto tied to Iran as Treasury targets IRGC flows

U.S. Treasury and Tether froze $344M in USDT tied to Iran’s IRGC, spotlighting how Tehran’s $7.8B crypto ecosystem leans on stablecoins to dodge sanctions and move oil money.

Summary

🔸U.S. authorities have frozen $344 million in cryptocurrency linked to Iranian networks, in a move Treasury Secretary Scott Bessent framed as part of a broader campaign to cut off “all financial lifelines” to the regime.

🔸Tether assisted the U.S. government by blacklisting roughly $344 million in USDT across two addresses, whose on‑chain patterns Chainalysis says match Islamic Revolutionary Guard Corps (IRGC) wallets and intermediaries tied to Iran’s central bank.

🔸Chainalysis estimates Iran’s crypto ecosystem reached about $7.8 billion in 2025, with IRGC‑linked activity representing roughly half of that by the fourth quarter, underscoring how central digital assets have become to Tehran’s sanctions evasion toolkit.

U.S. Treasury Secretary Scott Bessent has confirmed that the United States has sanctioned and frozen $344 million in cryptocurrency connected to Iran, targeting what he called “multiple wallets” that form part of the regime’s offshore funding channels. Bessent said Treasury would “track and combat all financial lifelines associated with the regime,” signaling that crypto flows are now firmly in Washington’s crosshairs alongside traditional banking networks.

The action follows a move by stablecoin issuer Tether, which announced it had frozen more than $344 million worth of USDT across two addresses after receiving information from U.S. authorities about possible links to illicit activity and sanctions evasion. KuCoin and other outlets reported that the two Tron wallets held about $213 million and $131 million in USDT respectively, and had been flagged by blockchain security firm PeckShield for connections to terrorism financing and criminal operations.