US Freezes $344 Million in Iran-Linked Cryptocurrency

24/04/2026

WASHINGTON, Apr 24: The United States has frozen $344 million in cryptocurrency linked to Iran as part of a renewed effort to tighten financial pressure on Tehran, US Treasury Secretary Scott Bessent announced on Friday.

According to Bessent, the Treasury Department’s Office of Foreign Assets Control (OFAC) has sanctioned multiple digital wallets associated with Iran, resulting in the freezing of funds held in cryptocurrency assets. He said the move forms part of what he described as an intensified economic campaign aimed at restricting Iran’s ability to generate, transfer, and repatriate funds through international financial channels.

In a post on X, Bessent stated that the US Treasury will continue targeting financial networks linked to Iran, emphasizing efforts to track and disrupt attempts to move money outside the country. He said the campaign will focus on identifying and blocking what he called financial lifelines connected to the Iranian government.

The announcement comes amid ongoing US sanctions pressure on Iran, with Washington continuing to expand its focus on digital financial systems and cryptocurrency networks allegedly used to bypass traditional banking restrictions.