The U.S. Treasury claimed its biggest on-chain trophy yet on Friday, announcing a freeze of roughly $344 million worth of Tether (USDT) sitting in two wallets that officials say belong to the Central Bank of Iran. Treasury Secretary Scott Bessent unveiled the action as part of a broader pressure campaign Washington is calling "Economic Fury," aimed at choking off Tehran's access to dollar-denominated liquidity while the conflict in the Middle East drags on.
According to OFAC's announcement, the wallets are alleged to be linked to the IRGC's Quds Force and to Hezbollah, with Tether coordinating directly with U.S. law enforcement to immobilize the balances. Blockchain analytics firm TRM Labs confirmed Friday that the action represents the largest single on-chain freeze of Iranian sovereign crypto reserves e...
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