U.S. sanctions on four Iran central bank crypto wallets prompt Tether to block $131 million in USDT amid resumed tensions.
Tether froze $131 million in USDT held in four crypto wallets linked to Iran’s central bank after the U.S. Treasury added the addresses to its sanctions list. The wallets, based on the TRON blockchain, previously held over $165 million in stablecoins, though some funds had moved prior to the freeze.
This action raises the total blocked USDT tied to Iran’s central bank to approximately $475 million. Iran has accumulated at least $507 million in USDT, using the token to support its currency, the rial, according to blockchain analytics firms.
The sanctions follow the breakdown of a ceasefire agreement and the resumption of air and drone strikes. The move provides exchanges and compliance firms with clear addresses to screen for potential violations.