US Freezes Crypto Worth $131M Linked to Iran

The U.S. has blocked access to over $130 million worth of crypto connected to Iran, marking another step in Washington’s campaign to disrupt financial networks it says support the Iranian government as tensions across the Middle East continue to rise.

U.S. Treasury Secretary Scott Bessent announced on X that the Department of the Treasury’s Office of Foreign Assets Control (OFAC) had imposed sanctions on several cryptocurrency wallets associated with Iran’s central bank. The move, he said, is intended to weaken financial channels that U.S. authorities believe are being used to generate and move illicit funds.

Bessent stated that the Treasury Department remains committed to tracking financial activity linked to sanctioned organizations and preventing the Iranian government from accessing revenue obtained through what the U.S. describes as illegal schemes.

Separately, blockchain investigator and researcher Specter reported that Tether had frozen four wallets on the TRON blockchain containing USDT worth roughly $131 million. According to the investigator, the majority of the assets had previously passed through cryptocurrency exchange Bitso and payment platform DTC Pay before the accounts were locked.

Specter later claimed the wallets were connected to entities already sanctioned by OFAC, including Iran’s Central Bank and the Islamic Revolutionary Guard Corps (IRGC).

The financial enforcement coincides with a sharp deterioration in relations between Washington and Tehran after the breakdown of a ceasefire. The U.S. military said it had resumed a naval blockade targeting Iranian ports, restoring measures that were previously enforced from April to June. At the same time, American forces carried out a fourth straight day of strikes against Iranian targets.

Iran also announced new military operations. According to a statement broadcast by the state-run Islamic Republic of Iran Broadcasting (IRIB), Iranian forces launched drones toward Jordan’s Al-Azraq military base during the seventh phase of what Tehran calls “Operation Lightning.” Officials said the mission targeted facilities that included areas used for F-18 fighter aircraft, military housing, and a large equipment storage site.

The latest developments followed renewed warnings from President Donald Trump, who said that the U.S. could strike bridges and power infrastructure next week if Iran does not return to negotiations.

This is not the first large-scale crypto enforcement action in recent months. Earlier this year, Tether blocked USDT worth over $344 million after receiving a request from the U.S.

Last month, the Treasury Department also sanctioned crypto exchanges Nobitex, Wallex, Ramzinex, and Bitpin under the Economic Fury campaign. Officials alleged the platforms helped Iran bypass sanctions, process transactions linked to the IRGC, and transfer money through cryptos.

Treasury further claimed Nobitex facilitated more than half of Iran’s cryptocurrency inflows during 2025 while enabling the country’s central bank to obtain hundreds of millions in stablecoins.

Exchanges like Coinbase Global Inc. (NASDAQ: COIN) will be taking note of these recent seizures and devising ways to prevent similar illicit funds from being moved through their platforms because such an event could expose the companies to reputational risk.

About CryptoCurrencyWire

CryptoCurrencyWire (“CCW”) is a specialized communications platform with a focus on blockchain and the cryptocurrency sector. It is one of 75+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, CCW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CCW brings its clients unparalleled recognition and brand awareness. CCW is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from CryptoCurrencyWire, text “CRYPTO” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.CryptoCurrencyWire.com

Please see full terms of use and disclaimers on the CryptoCurrencyWire website applicable to all content provided by CCW, wherever published or re-published: https://www.CryptoCurrencyWire.com/Disclaimer

CryptoCurrencyWire
Austin, Texas
www.CryptoCurrencyWire.com
512.354.7000 Office
Editor@CryptoCurrencyWire.com

CryptoCurrencyWire is powered by IBN