US Senate Finds 84% of Sanctioned Iran-Linked Wallets Use USDT

A US Senate investigation has found that the majority of cryptocurrency wallets linked to Iran and sanctioned by the US and Israel process transactions in Tether (USDT). The report, which analyzed 846 such wallets, revealed that 84% of them used USDT for all or most transactions.

The subcommittee's findings suggest that USDT has been a key payment tool for the Iranian regime and has also been used to finance armed groups like Hezbollah. This criticism is directed at Tether for not freezing sanctioned wallets quickly enough, according to the Senate investigation.