BREAKING: 🇺🇸 The U.S. has frozen $344 million in crypto allegedly linked to Iran's Central Bank.
Unlike traditional asset freezes, these funds were held on-chain, not in a bank.
According to OFAC, two wallets tied to Bank Markazi were linked to the IRGC-Qods Force and Hezbollah. Tether cooperated by freezing the wallets.
Key details:
Over $370M received through 1,000+ transactions since March 2021.
One wallet had no outgoing transactions, suggesting long-term reserve storage.
The wallets remained largely inactive since late 2023 until this week.
The incident highlights that USDT can be frozen when sanctioned state-linked entities are involved, reinforcing that decentralization and censorship resistance depend on the asset and issuer.
Your move, crypto.
#OFAC #Iran #Tether #USDT #CryptoNews🚀🔥
Unlike traditional asset freezes, these funds were held on-chain, not in a bank.
According to OFAC, two wallets tied to Bank Markazi were linked to the IRGC-Qods Force and Hezbollah. Tether cooperated by freezing the wallets.
Key details:
Over $370M received through 1,000+ transactions since March 2021.
One wallet had no outgoing transactions, suggesting long-term reserve storage.
The wallets remained largely inactive since late 2023 until this week.
The incident highlights that USDT can be frozen when sanctioned state-linked entities are involved, reinforcing that decentralization and censorship resistance depend on the asset and issuer.
Your move, crypto.
#OFAC #Iran #Tether #USDT #CryptoNews🚀🔥