The United States has frozen about $344 million in cryptocurrency allegedly linked to Iran, according to a report by CNN, as the administration of Donald Trump intensifies financial pressure on Tehran.
Citing US officials and Treasury statements, the report said authorities targeted multiple digital wallets believed to be connected to Iranian entities.
US Treasury Secretary Scott Bessent said Washington was “sanctioning multiple wallets tied to Iran,” adding, “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.”
Stablecoin issuer Tether confirmed it assisted US authorities in freezing the funds across two wallet addresses, saying the move followed intelligence shared by US agencies regarding “activity tied to unlawful conduct.”
Officials told CNN that blockchain analysis revealed “material links to the Iranian regime,” including transactions involving Iranian exchanges and intermediary routes connected to the Central Bank of Iran.
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Authorities said Iran has been using increasingly complex crypto pathways to mask cross-border transactions, aimed at stabilising its currency and sustaining trade amid sanctions.
The development comes as Washington steps up economic pressure during stalled diplomatic efforts linked to an ongoing conflict.
Analysts note that cryptocurrencies have become a key tool for sanctioned states like Iran, Russia and North Korea to bypass restrictions.
Data from Chainalysis, cited by CNN, showed Iran's crypto holdings reached $7.8 billion in 2025, with the Islamic Revolutionary Guard Corps accounting for nearly half in late 2025.
Daniel Tannebaum of the Atlantic Council and Oliver Wyman described the freeze as “meaningful,” but cautioned it may not “move the needle,” noting Iran's long experience in adapting to sanctions and reliance on alternative financial channels.
CNN also reported that suspected pro-Israel hackers stole around $90 million from Iran's largest crypto exchange last year.
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