US Freezes $131M in Crypto Linked to Iran on July 14

The US Office of Foreign Assets Control added four Tron wallet addresses to the Central Bank of Iran's sanctions listing on July 14, and Tether froze approximately $131 million in USDT held in those wallets, the Treasury's latest enforcement action in what it describes as Iran's illicit use of digital assets. Treasury Secretary Scott Bessent stated the department is committed to disrupting and degrading Iran's illicit financial activities, including its abuse of digital assets, and pledged to aggressively follow the money. The freeze extends a US campaign against Iran-linked digital assets running since March 2025, which included an April freeze of $344.2 million on the same listing and OFAC's June designation of Iran's four largest crypto exchanges, and landed as hostilities between the US and Iran resumed after a collapsed ceasefire.

OFAC and Tether Execute Two-Step Freeze Mechanism

The freeze operates through a two-step process: OFAC designates the addresses on its sanctions list, and Tether, as the token's issuer, blocks them at the software level, rendering the funds immovable. The updated listing ties the entry to the Islamic Revolutionary Guard Corps' Qods Force and Hizballah, and carries secondary-sanctions risk under Executive Order 13224. The description of these activities as illicit finance reflects the Treasury's assessment. Iranian officials had not publicly responded at the time of writing.

Treasury Campaign Freezes $475M Since March 2025

The wallet action extends a US campaign against Iran-linked digital assets running since March 2025. Tether froze $344.2 million in April across two addresses already on the central bank's listing, and Bessent said in May the US had seized or frozen close to $1 billion in Iran-linked crypto since the campaign began. Tether says it works with more than 340 law enforcement agencies across 65 countries and has frozen over $4.4 billion in assets to date, including $2.1 billion tied to US actions, according to its own reporting. The company had not published a statement on this freeze.

Freeze Coincides With Resumed US-Iran Hostilities

The designation landed as hostilities between the US and Iran resumed after a collapsed ceasefire, with strikes reported on both sides.

FAQ

What did OFAC do on July 14 regarding Iran?
OFAC added four Tron wallet addresses to the Central Bank of Iran's sanctions listing on July 14, and Tether froze approximately $131 million in USDT held in those wallets.

How much crypto has the US frozen in Iran-linked assets since March 2025?
Tether froze $344.2 million in April and $131 million on July 14, totaling $475.2 million across the two publicly reported actions; Treasury Secretary Scott Bessent stated in May the US had seized or frozen close to $1 billion in Iran-linked crypto since the campaign began in March 2025.