US freezes $131M in Iran-linked crypto tied to central bank

The United States has frozen more than $130 million in cryptocurrency held in wallets linked to the Central Bank of Iran, according to Treasury Secretary Scott Bessent.

The action adds to a broader U.S. campaign targeting Iran’s use of digital assets and other financial channels.In a July 14 post on X, Bessent said the Treasury Department’s Office of Foreign Assets Control sanctioned multiple wallets tied to Iran’s central bank. The sanctions resulted in more than $130 million being frozen.

Four Tron wallets held about $131 million

On-chain investigator Specter identified four wallets on the Tron network holding a combined total of roughly $131 million in USDT. Reports based on the analysis said Tether had frozen the addresses, preventing the stablecoins from being transferred.

Bessent did not identify the individual addresses in his statement. He said Treasury remained “committed to disrupting and degrading Iran’s illicit financial activities, including its abuse of digital assets.” He added that authorities would continue to “follow the money” and restrict access to funds that Washington links to Iranian government revenue networks.

Freeze follows earlier $344 million USDT action

The latest move follows a much larger enforcement action in April.As previously reported, Tether froze about $344 million in USDT across two Tron wallets after U.S. authorities linked the addresses to Iranian networks. One wallet held about $213 million, while another contained roughly $131 million.

Blockchain analysis at the time found transaction patterns associated with wallets linked to Iran’s Islamic Revolutionary Guard Corps and intermediaries connected to the Central Bank of Iran. The funds were blocked through controls built into the USDT token rather than through changes to the Tron blockchain itself.

Treasury expands pressure on Iran’s crypto networks

The United States has increased its focus on Iran’s digital asset infrastructure during 2026. In June, Treasury sanctioned four Iranian crypto exchanges, including Nobitex, which the department said handled more than half of Iranian digital asset inflows during 2025.

As reported, Bessent also said in May that U.S. actions had seized or frozen nearly $1 billion in Iran-linked cryptocurrency. Earlier figures had placed the total near $500 million after the April USDT action.

The Treasury has described the campaign as part of Operation Economic Fury, which targets crypto exchanges, wallets and traditional financial networks that U.S. officials accuse of supporting sanctions evasion and Iranian military financing. Treasury actions have also targeted overseas companies accused of helping move proceeds from Iranian oil sales through cryptocurrency and front companies.

Crypto freeze comes as US-Iran tensions rise

The new wallet action comes during renewed military tensions between Washington and Tehran. U.S. Central Command confirmed fresh strikes against Iranian military targets and the resumption of a blockade of Iranian ports this week after a June pause in hostilities began to break down.

The latest freeze also shows the enforcement role centralized stablecoins can play. Unlike Bitcoin, USDT contains issuer-level controls that can prevent sanctioned addresses from moving tokens. Tether has used those controls in several law enforcement actions, including the April Iran-linked freeze and a July action involving wallets sanctioned over alleged ISIS-K financing.

For the latest $131 million action, Treasury has confirmed that the wallets were tied to the Central Bank of Iran and that the funds were frozen. Public statements have not disclosed how the assets were originally obtained or how authorities determined the intended use of the funds.