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Tether said it froze more than $344 million in USDT across two Tron wallet addresses after OFAC blacklisted them for ties to Iran’s Central Bank, the IRGC-Qods Force, and Hezbollah. The action is part of a broader U.S. campaign the Treasury Department has called “Operation Economic Fury,” aimed at disrupting Iranian financial networks.
Two Wallets Tied to Iranian State Activity
The two Tron-based wallets held approximately $212.9 million and $131.3 million in USDT. According to blockchain intelligence firm TRM Labs, the addresses had accumulated roughly $370 million through nearly 1,000 deposits since March 2021, with minimal outgoing transfers. TRM Labs said one wallet recorded no outgoing transfers at all, while the second sent out less than $16 million against more than $228 million received.
TRM Labs described a consistent pattern behind the wallets: large USDT deposits arrived, were routed through bridges to Ethereum or Binance Smart Chain multisig custody setups, converted via DeFi protocols, and funneled toward centralized exchanges. The newly sanctioned wallets sat at the beginning of that pipeline. Treasury Secretary Scott Bessent confirmed the action on X.
“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,” Bessent said.
Tether’s Largest Single Freeze to Date
The freeze is Tether’s largest single enforcement action on any blockchain. The previous record was roughly $182 million across five Tron wallets in January 2026, also in coordination with U.S. authorities.
Tether said it now works with more than 340 law enforcement agencies in 65 countries and has frozen a cumulative $4.4 billion in assets, with more than $2.1 billion tied to U.S. agencies.
“USD₮ is not a safe haven for illicit activity,” Tether chief executive Paolo Ardoino said.
“When credible links to sanctioned entities or criminal networks are identified, we act immediately and decisively.”
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Fhumulani Lukoto
Cryptocurrency Journalist
Fhumulani Lukoto holds a Bachelors Degree in Journalism enabling her to become the writer she is today. Her passion for cryptocurrency and bitcoin started in 2021 when she began producing content in the space. A naturally inquisitive person, she dove head first into all things crypto to gain the huge wealth of knowledge she has today. Based out of Gauteng, South Africa, Fhumulani is a core member of the content team at Coin Insider.