USA Freezes $344 Million in Crypto Linked to Iran
BITmarkets Team
Apr 27, 2026
In a post on X, Bessent said the action forms part of broader US efforts to “systematically degrade Tehran’s ability to generate, move, and repatriate funds.” The move follows joint airstrikes carried out by the United States and Israel on Iran in late February. “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,” said Bessent.
The announcement came shortly after Tether confirmed it had frozen over $344 million worth of Tether at the request of US authorities due to “activity tied to unlawful conduct,” though Iran was not explicitly mentioned at the time.
OFAC designations and enforcement actions
According to an updated notice on OFAC’s Specially Designated Nationals list, two crypto addresses on the Tron network were sanctioned, holding a combined total of $344 million. US Treasury officials stated that these wallets were associated with the Islamic Revolutionary Guard Corps and the political group Hizballah.
Rising tensions and crypto-linked developments
The sanctions follow reports suggesting Iran may have explored charging ships in Bitcoin for passage through the Strait of Hormuz, a key global shipping route for oil and other goods. A report by Forbes indicated that revenue had already been generated from such crypto-based tolls.
Despite Donald Trump stating that a ceasefire agreement with Iran was in place this week, tensions in the region remain elevated. Reports indicate that Iran has targeted multiple vessels in the area, while US naval forces have established a blockade around the strategic waterway.
Sources:
https://cointelegraph.com/news/united-states-freeze-crypto-iran