Tether Freezes $550M Linked to Iran Amid Ongoing Crypto Sanctions Investigation

Tether has frozen around $550 million in USDT linked to Iran's central bank and sanctioned Iranian networks, according to the company. This action was taken after receiving information from U.S. authorities.

The freeze was part of a larger investigation into cryptocurrency wallets associated with Iran and groups in the region. A preliminary report by the Senate Permanent Subcommittee on Investigations found that 84% of these wallets transacted exclusively or almost exclusively in USDT.

Tether claims to have supported U.S. authorities in freezing over $344 million in USDT in two wallets after receiving information from OFAC and other agencies. The Treasury expanded the list of blockchain addresses linked to the Central Bank of Iran, leading to the freeze of an additional $130 million in USDT.