U.S. Treasury Secretary Scott Bessent announced sanctions on 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 followed Tether’s freeze of $344 million in USDT on Tron, which has now been linked to Iranian sanctions. Tether noted that the freeze was made in coordination with the U.S. Office of Foreign Assets Control (OFAC) and U.S. law enforcement.
Sanction Details and Tether Freeze
Treasury Secretary Bessent stated: “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.” The two Tron addresses that Tether froze on Thursday held approximately $213 million and $131 million in USDT respectively, and were blacklisted at the smart contract level. According to Chainalysis, these wallets were regularly active years ago.
Iran’s Cryptocurrency Holdings and Usage
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 IRGC has become accustomed to making large transfers totalling several million dollars between private wallets. 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.
Cryptocurrency as Sanctions Evasion Tool
Iran, known as a bitcoin mining hub, has long turned to cryptocurrencies to sidestep economic sanctions imposed by the United States and its allies.
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
U.S. Sanctions Iran-Linked Crypto Wallets, Tether Freezes $344 Million USDT
Gate News message, April 26 — The U.S. federal government sanctioned multiple wallets linked to Iran on April 25, with Treasury Secretary Scott Bessent announcing the action as part of efforts to increase economic pressure on the country amid an ongoing ceasefire. The sanctions came a day after
GateNews8h ago
U.S. Sanctions Iran-Linked Crypto Wallets as Tether Freezes $344 Million USDT
Gate News message, April 26 — U.S. Treasury Secretary Scott Bessent announced on Friday that the federal government is sanctioning multiple wallets linked to Iran as part of efforts to increase economic pressure on the country amid an ongoing ceasefire. The move came a day after Tether froze $344 mi
GateNews15h ago
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 w
GateNews21h ago
US Sanctions Iran-Linked Crypto Wallets Holding $344M Frozen by Tether
U.S. Treasury Secretary Scott Bessent announced sanctions on multiple wallets linked to Iran as part of President Donald Trump's efforts to increase economic pressure on the country, according to CNN. The move follows Tether's freeze of $344 million in USDT on Tron, which has been linked to
CryptoFrontier04-25 21:06
US Sanctions Iran-Linked Crypto Wallets, Tether Freezes $344M USDT
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
CryptoFrontier04-25 14:31
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
GateNews04-25 08:27
