US freezes $131M in Iran-linked crypto as Middle East tensions rise
The US Treasury ordered the freezing of more than $130 million in cryptocurrency tied to Iran, and Scott Bessent said the wallets belonged to the Central Bank of Iran. Onchain data showed Tether froze four Tron wallets holding about $131 million in USDT. Bessent said the Treasury is targeting Iran’s illicit financial activity and will keep cutting off access to crypto proceeds. The action comes as US-Iran tensions escalated, with renewed US strikes and blockades and Iranian drone claims against a US base in Jordan. It follows earlier freezes, including Tether’s April freeze of more than $344 million in USDT at US request. Bessent also said in May that the US had seized about $1 billion in Iranian crypto assets under Operation Economic Fury, a broader campaign to pressure Iran financially.
