The United States Treasury Department froze $344 million worth of cryptocurrency over suspected links to Iran, CNN reported on Friday, citing a US official.
"Working with blockchain analytics experts, the US government has observed evidence of material links to the Iranian regime, including confirmed transactions with Iranian exchanges and a series of transactions routed through intermediary addresses that interact with Central Bank of Iran-associated wallets," the official said. The move is aimed at further pressuring Iran through economic means. "We will follow the money that Tehran is desperately attempting to move outside of the country and target all financial lifelines tied to the regime," US Treasury Secretary Scott Bessent shared in a statement.
Tether Limited Inc. previously announced it supported the freezing of the crypto assets after being approached by the US government. However, the digital currency firm didn't specify the exact reasons behind the action, stating only that there was information about "unlawful conduct."
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