The U.S. Treasury has sanctioned four cryptocurrency wallets linked to the Central Bank of Iran, escalating financial pressure as tensions between the two nations intensify.
The Office of Foreign Assets Control (OFAC) added the four TRON-blockchain addresses to its sanctions list. According to blockchain analysis firm Chainalysis, these wallets had previously received over $165 million in stablecoins.
In direct response, stablecoin issuer Tether moved to freeze $131 million in USDT held within those sanctioned addresses. This action prevents the transfer or redemption of those specific funds, though they remain visible on the blockchain.
This latest freeze expands on previous enforcement. In April, Tether froze $344 million in USDT also linked to Iran's central bank. Combined, the total amount of blocked USDT connected to the institution is now approximately $475 million.
The sanctions are part of an ongoing U.S. campaign. Iran's central bank has been under U.S. counterterrorism sanctions since 2019 for its support of groups like the Islamic Revolutionary Guard Corps-Qods Force. OFAC has noted that its published list of blocked wallet addresses is not exhaustive.