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More than $131 million in USDT held in cryptocurrency wallets linked to the Central Bank of Iran has been frozen at the direction of U.S. authorities. U.S. Treasury Secretary Scott Bessent confirmed the operation amid renewed tensions in the Middle East.
Earlier, blockchain investigator Specter highlighted on-chain data showing that Tether had frozen four addresses on the Tron network. Together, the wallets held approximately $131 million worth of USDT.
Bessent said the U.S. Treasury Department remains committed to disrupting Iran's illicit financial activities, including its use of digital assets. He added that U.S. authorities will continue tracking illicit funds and restricting the Iranian government's access to revenue generated through alleged sanctions evasion schemes.
Freeze comes amid renewed hostilities
The operation took place amid a new escalation in tensions between the United States and Iran. Washington has reinstated a blockade of Iranian ports and conducted additional strikes on targets inside the country, while Tehran has claimed attacks against U.S. military infrastructure in the region.According to U.S. officials, the frozen wallets were linked to the Central Bank of Iran. Washington believes Iranian entities use digital assets to circumvent sanctions, move funds internationally, and finance military programs.
The U.S. Treasury has steadily increased pressure on Iran's cryptocurrency infrastructure. In June, the department said its actions had already led to the freezing of nearly $500 million in cryptocurrency tied to Iran's leadership and affiliated organizations.
Tether previously froze another $344 million
The latest operation follows similar actions taken earlier this year. In April, Tether froze more than $344 million in USDT held across two wallet addresses at the request of the Office of Foreign Assets Control (OFAC) and other U.S. agencies.In May, Bessent stated that U.S. authorities had gained control of approximately $1 billion in Iran-linked crypto assets since launching Operation Economic Fury. The program began in March 2025 and aims to limit Iran's access to the global financial system and digital assets.
According to the Treasury Department, the campaign is intended to disrupt foreign procurement and payment networks that help Iranian military organizations acquire weapons and evade international sanctions.
In June, the Treasury sanctioned Iran's largest cryptocurrency exchange, Nobitex, and several of its executives. U.S. officials said the platform processed more than half of all digital asset inflows into Iran during 2025 and helped the country's central bank gain access to hundreds of millions of dollars in stablecoins.
Earlier, analysts reported that cryptocurrency exchange CoinEx processed approximately $3.8 billion in Iran-linked transactions. Researchers said the platform may have been used to facilitate sanctions evasion and transfer funds between Iranian users and foreign counterparties.
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