US’ New Move Against Iran: $344 Million In Tehran-Linked Crypto Frozen In Financial Crackdown

Last Updated:April 25, 2026, 18:57 IST

US Treasury Secretary Scott Bessent confirmed that the department has taken action against multiple digital wallets associated with Iran.

The Trump administration has frozen $344 million in cryptocurrency that US officials say is linked to Iran, in a move aimed at tightening financial pressure on Tehran as diplomatic efforts to resolve ongoing tensions continue to stall, according to CNN reporting. The seizure comes as the global economy continues to feel the ripple effects of the conflict and a fragile ceasefire remains in place.

US Treasury Secretary Scott Bessent confirmed that the department has taken action against multiple digital wallets associated with Iran. “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," he said in a statement.

The freeze was carried out with support from Tether, a major digital currency company, which said it assisted US authorities in blocking the funds after being alerted to “activity tied to unlawful conduct." A US official told CNN that blockchain analysis showed links between the wallets and Iranian entities, including transactions connected to Iranian exchanges and addresses associated with Iran’s central banking system.

Officials argue that sanctioned states such as Iran have increasingly turned to cryptocurrency to bypass traditional financial restrictions. According to blockchain data cited by analysts, Iran’s crypto holdings reached an estimated $7.8 billion in 2025, with a significant share attributed to groups linked to the Islamic Revolutionary Guard Corps.

While US officials describe the seizure as significant, experts caution it may not substantially alter Iran’s financial strategy. Daniel Tannebaum, a senior fellow at the Atlantic Council, told CNN that Iran has long adapted to sanctions and continues to rely on alternative financial channels and third-country intermediaries to sustain its economy and military needs.

The Treasury Department has also expanded sanctions against entities in China linked to Iranian oil purchases, signaling a broader effort to disrupt Tehran’s financial networks across multiple jurisdictions.

News world US’ New Move Against Iran: $344 Million In Tehran-Linked Crypto Frozen In Financial Crackdown

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