OFAC Adds Four Iran Central Bank Crypto Wallets to Sanctions List; Tether Freezes $131 Million
Summary
OFAC added four cryptocurrency addresses linked to Iran’s central bank to its designation. The wallets received $165 million in stablecoins, and Tether froze $131 million. Tether has frozen nearly $475 million across OFAC-identified addresses.
Key points
- OFAC updated its Central Bank of Iran designation to include four additional cryptocurrency addresses.
- The four wallets received a combined $165 million in stablecoins.
- Tether froze $131 million in balances at the issuer’s direction, preventing the funds from being spent or transferred.
- Tether has frozen nearly $475 million from addresses OFAC identified as belonging to Iran’s central bank.
- Chainalysis says the newly designated addresses received funds from an institutional liquidity provider and an Asia-based payment processor.
Article Details
- Event Type
- OFAC sanctions designation update adding four cryptocurrency wallet addresses controlled by the Central Bank of Iran.
- Impact
- The newly designated wallets had received $165 million in stablecoins, of which Tether immediately froze $131 million. Chainalysis reports that Tether has frozen almost $475 million from wallet addresses identified by OFAC as belonging to the Central Bank of Iran.
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IranU.S. Treasury Department’s Office of Foreign Assets Control (OFAC) on Tuesday updated its Central Bank of Iran designation to include four additional cryptocurrency addresses as identifiers. A review of on-chain dataLebanoncryptocurrency to sidestep sanctions, fund the regime, and funnel assets to regional partners, including Lebanon-based Hezbollah, a U.S.-designated terror group