US Freezes $344 Million Cryptocurrency Linked To Iran

[Abdulwahid]

The United States government has frozen $344 million in cryptocurrency allegedly connected to Iran, increasing economic pressure on Tehran. This action by the Trump administration comes at a time when diplomatic efforts to reduce tensions in the region have slowed down, while a fragile ceasefire still remains in place.

US Treasury Secretary Scott Bessent confirmed on Friday that the government is placing sanctions on several digital wallets linked to Iran. He explained that the US is determined to track and block money that Tehran is trying to move outside the country and target every financial source connected to the Iranian government.

According to Bessent, the goal is to stop Iran from using financial networks to support its activities. He stated that the US will continue to monitor and act against all financial lifelines tied to the regime, especially those used to avoid international sanctions and restrictions already placed on the country.

Tether, the company involved in handling the transactions, announced that it supported the US government in freezing the funds. The company said the money was located across two wallet addresses and that the decision followed information shared by several US authorities regarding suspicious and unlawful financial activity.

A US official also explained that blockchain investigations showed strong links between the frozen funds and the Iranian government. These findings included transactions connected to Iranian crypto exchanges and movements through intermediary wallet addresses that interacted with accounts associated with the Central Bank of Iran.

Tether CEO Paolo Ardoino responded by saying that USDT is not a safe place for illegal financial activities. He emphasized that whenever there is reliable evidence connecting funds to sanctioned groups or criminal networks, the company takes immediate action to stop such transactions.

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