U.S. Freezes $344 Million In Crypto Tied To Iran Amid Escalating Regional Tensions
The Trump administration has frozen about $344 million in cryptocurrency it says is linked to Iran, stepping up financial pressure on Tehran as tensions between the countries continue.
U.S. Treasury Secretary Scott Bessent said the department is targeting digital wallets associated with Iranian-linked activity, stating that multiple accounts have been placed under sanctions as authorities track efforts to move funds outside the country.
“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,” Bessent said in a statement.
The cryptocurrency freeze was carried out with assistance from Tether, a digital asset company that confirmed it blocked access to the funds after receiving information from U.S. authorities regarding transactions flagged for unlawful activity, according to the company’s statement.
“USD₮ is not a safe haven for illicit activity,” said Paolo Ardoino, CEO of Tether. “When credible links to sanctioned entities or criminal networks are identified, we act immediately and decisively. Recent events have shown what happens when platforms fail to move quickly: enforcement breaks down, users are exposed, and trust erodes,” he added.
A U.S. official told CNN that investigators identified links between the frozen assets and Iranian financial networks, including transactions involving domestic exchanges and intermediary wallets connected to accounts associated with the Central Bank of Iran.
The official said blockchain analysis showed patterns of activity consistent with attempts to move funds through multiple addresses in order to obscure their origin and destination.
U.S. regulators have expanded monitoring of cryptocurrency exchanges and blockchain transactions in cases involving sanctioned countries, including Iran, as part of wider efforts to track cross-border financial flows, Reuters noted.
Iran has faced long-standing U.S. sanctions tied to its nuclear program, military activity and regional alliances. Over time, officials and analysts say the country has developed alternative financial channels, including digital assets, to maintain access to international trade routes and funding mechanisms.
Blockchain analytics firm Chainalysis, in its 2026 analysis of Iran’s cryptocurrency ecosystem based on 2025 data, estimates that total crypto holdings tied to Iran reached about $7.8 billion, with a significant share linked to actors associated with the Islamic Revolutionary Guard Corps.
Chainalysis said in the same analysis that wallet activity linked to Iranian networks showed patterns consistent with previous IRGC-associated transactions, including large transfers routed through multiple intermediary wallets and exchanges.
The Treasury Department said in earlier enforcement statements that it continues to work with domestic and international financial institutions, including cryptocurrency exchanges, to identify and block transactions linked to sanctioned entities. Officials have previously described digital asset tracking as a key tool in sanctions enforcement efforts.
Iran has not issued a public statement on the reported freeze.
