Iran-Linked Crypto Frozen Amid Renewed US Military Action

US Freezes $130 Million in Iran-Linked Crypto Amid Escalating Tensions

The United States has frozen over $130 million in cryptocurrency assets tied to Iran, as hostilities in the Middle East continue to escalate.

U.S. Treasury Secretary Scott Bessent confirmed on X, formerly Twitter, that the Treasury Department’s Office of Foreign Assets Control (OFAC) had sanctioned multiple cryptocurrency wallets connected to the Central Bank of Iran. Bessent stated that the action is part of a broader Treasury effort to disrupt and degrade Iran’s illicit financial activities. “We will continue to aggressively follow the money and deny the Iranian regime access to the proceeds of its illicit revenue schemes,” he added.

In a separate report, blockchain investigator Specter revealed that stablecoin issuer Tether had frozen four TRON wallets holding approximately $131 million in USDT. According to Specter, most of the funds in these wallets were traced to withdrawals from payment service provider DTC Pay and cryptocurrency exchange Bitso before being frozen. Specter later indicated that the wallets are linked to OFAC-sanctioned entities, including the Islamic Revolutionary Guard Corps (IRGC) and the Central Bank of the Islamic Republic of Iran (Bank Markazi Jomhouri Islami Iran).

This enforcement action comes as the situation between the U.S. and Iran has significantly deteriorated following the collapse of their ceasefire. The U.S. military announced it has reimposed its naval blockade of Iranian ports, a measure previously enforced between April and June. This development occurred as U.S. forces conducted a fourth consecutive day of strikes on Iranian targets. Meanwhile, Iran’s army reported launching drone attacks on Jordan’s Al-Azraq military base as part of the seventh phase of “Operation Lightning.”

According to a statement broadcast by the state-run Islamic Republic of Iran Broadcasting (IRIB), the operation targeted facilities including locations housing F-18 fighter jets, accommodation buildings, and a large equipment shed. These latest military actions coincided with renewed warnings from Donald Trump, who stated in a television interview that the U.S. would target bridges and power plants next week unless Tehran returned to the negotiating table.

This latest freeze follows another significant crackdown just months prior. In April, Tether froze over $344 million in USDT at the request of U.S. authorities.

The U.S. Treasury also sanctioned Iran’s largest cryptocurrency exchange, Nobitex, along with Wallex, Bitpin, and Ramzinex, as part of the Trump administration’s “Economic Fury” campaign last month. U.S. officials alleged that these exchanges assisted Iran in evading sanctions, processing transactions linked to the IRGC, and moving funds through digital assets. The Treasury further claimed that Nobitex handled more than half of Iran’s cryptocurrency inflows in 2025 and facilitated the Central Bank of Iran’s access to hundreds of millions of dollars in stablecoins.