The Owner of the $344 Million in USDT That Tether Froze Yesterday Has Been Identified

Tether and the US administration froze $344 million worth of crypto assets yesterday that were allegedly linked to Iran.

The move, spearheaded by the U.S. Treasury Department, is seen as part of the Donald Trump administration’s strategy to increase economic pressure on Tehran. First reported by CNN, the development comes at a time when fragile diplomatic efforts to end the war in the Middle East have stalled.

U.S. Treasury Secretary Scott Bessent announced that numerous cryptocurrency wallets linked to Iran have been added to the sanctions list, stating, “We will track the financial flows that Tehran is trying to move out of the country and target all financial lines connected to the regime.”

On the other hand, cryptocurrency company Tether stated that the transaction was carried out in accordance with “information related to illegal activities” shared by US authorities.

A US official stated that blockchain analysis revealed findings indicating “concrete links” between these assets and Iran. These findings included transactions with Iranian-based exchanges and interactions with wallets linked to the Central Bank of Iran. However, these connections have not been independently verified.

Officials say Iran is trying to conceal its role in cross-border transactions using digital assets in the face of increasing sanctions, aiming to both support the rial and maintain international trade through these methods.

According to data from the crypto analytics company Chainalysis, the total value of crypto assets in Iran reached $7.8 billion in 2025. Approximately half of these assets are said to be linked to the Iranian Revolutionary Guard, which plays a significant role in the country’s economic structure.

*This is not investment advice.