The US Treasury just proved, again, that stablecoins on public blockchains are not exactly the untraceable getaway vehicle some sanctioned regimes hoped they’d be. The Office of Foreign Assets Control (OFAC) sanctioned four Tron blockchain wallets linked to Iran’s Central Bank, Bank Markazi, freezing over $130 million in digital assets, primarily USDT.
The wallets were tied to financial activities associated with Iran’s Islamic Revolutionary Guard Corps (IRGC). Tether, the company behind USDT, coordinated directly with OFAC to freeze approximately $131 million across the four addresses, which had cumulatively received more than $165 million in stablecoins before the hammer dropped.
A pattern of escalating financial pressure
Back in April 2026, OFAC froze $344.2 million in two separate wallets also linked to the Central Bank of Iran. Then in June 2026, the US imposed sanctions on major Iranian digital asset exchanges, including Nobitex and Bitpin. Now this latest action in mid-July adds another $131 million to the frozen pile.
In roughly three months, US authorities have immobilized nearly half a billion dollars in crypto assets connected to Iranian state financial infrastructure.
