The United States has frozen $344 million in cryptocurrency linked to Iran as part of a renewed effort to tighten financial pressure on Tehran. The Treasury Department’s OFAC has sanctioned multiple digital wallets associated with Iran, resulting in the freezing of funds held in cryptocurrency assets. This move is part of an intensified economic campaign aimed at restricting Iran’s ability to generate, transfer, and repatriate funds.
The US Treasury Department announced new sanctions targeting Iran-linked cryptocurrency networks, freezing $344 million in cryptocurrency from multiple wallets. This action aims to curb Iran’s illicit oil trade and is part of the broader ‘maximum pressure campaign’ against Tehran. It seeks to hold the regime accountable for its regional aggression and threats to American interests.
The United States has frozen $344 million in cryptocurrency linked to Iran. Treasury Secretary Scott Bessent stated that the Treasury is sanctioning multiple wallets related to Iran and will track and combat all financial lifelines associated with the regime. Blockchain analysis revealed that the funds were traded through intermediary addresses linked to the Iranian central bank's wallets to evade sanctions.