The action is part of the US government's sanctions campaign targeting Iran's financial networks and follows previous freezes of Iran-linked cryptocurrency assets, including more than $344 million in USDT in April. US officials say the enforcement is being done to disrupt Iran's use of digital assets to finance military and other illicit activities.
US Freezes Iran-Linked USDT
The United States froze more than $130 million worth of cryptocurrency linked to Iran, Treasury Secretary Scott Bessent confirmed on Tuesday. The latest action targeted four Tron wallets holding approximately $131 million in Tether (USDT). This happened after blockchain investigator Specter identified the wallets on-chain. Bessent later confirmed that the wallets were linked to the Central Bank of Iran.
In a statement that was shared on X, Bessent said the Treasury Department is still committed to preventing Iran from using digital assets to support illicit financial activities. He said the US will continue to track and seize cryptocurrency connected to the Iranian regime as part of its sanctions enforcement strategy.
The latest freeze comes at a time of renewed conflict in the Middle East. The ceasefire between the United States and Iran has collapsed, and both countries are escalating military operations.
The US reportedly reinstated a blockade targeting Iranian ports, while US Central Command announced a new round of military strikes against Iran. At the same time, Iran's military claimed it carried out drone attacks on US military facilities at Jordan's Al Azraq Air Base.
The cryptocurrency freeze is not an isolated action but is actually part of a campaign by US authorities to restrict Iran's access to financial resources. In April, stablecoin issuer Tether confirmed that it froze more than $344 million worth of USDT after receiving requests from US authorities. The company has worked alongside law enforcement agencies to block wallets linked to sanctions evasion, terrorism financing, and other illicit activities.
The latest enforcement also builds on Operation Economic Fury, which is a US financial pressure campaign launched in March of 2025. In May, Bessent revealed that authorities had already seized around $1 billion worth of Iranian cryptocurrency under the initiative. According to the Treasury Department, the operation focuses on dismantling the financial and procurement networks that Iran uses to acquire weapons and fund military operations.
Bessent talked about the administration's position in a statement that was released in June, where he said that the Treasury had frozen Iranian assets, disrupted the country's economy, and weakened financial networks supporting its military. He added that the department will continue targeting anyone providing financial support to the Iranian regime, including those using cryptocurrency to move or conceal funds.
