In Brief: Tether reports nearly $550 million in Iran-linked USDT freezes, although its statement does not itemize the gap between disclosed actions. Israeli bureau referrals prompted freezes
Tether helped freeze nearly $550 million in Iran-linked USDT during 2026, including funds in wallets U.S. authorities connected to Iran’s central bank and sanctioned networks.
According to Tether’s statement, its disclosure comes as the U.S. Treasury expands Operation Economic Outcast, a campaign targeting financial support for Iran’s government that identifies digital assets as one of five sectors facing increased sanctions risks. Consequently, Tether’s ability to restrict specific wallets has become relevant to investigations involving digital asset transfers.
In April, Tether helped freeze more than $344 million in USDT across two addresses identified through information from U.S. authorities. The Office of Foreign Assets Control added both addresses to its Central Bank of Iran designation the following day. The designation connected the wallet restrictions to a formal U.S. sanctions action involving the Iranian institution.
Tether also reported freezing more than $130 million in USDT across four wallets during July. Treasury had expanded its Central Bank of Iran designation to include four additional addresses on the TRON network. Together, the amounts specified for April and July exceed $474 million, while Tether reports a total near $550 million. The company did not itemize the difference between those figures in its September statement.
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Tether also pointed to its cooperation with Israel’s National Bureau for Counter Terror Financing on suspected illicit financial activity. According to the company, bureau referrals have led to freezes exceeding 22 million USDT across more than 40 cases. Those cases involved over 640 addresses, extending beyond the U.S. actions that Tether included in its 2026 figure.
In September 2025, the Israeli bureau identified 187 cryptocurrency addresses it associated with Iran’s Islamic Revolutionary Guard Corps. Blockchain analytics firm Elliptic subsequently reported that Tether had blacklisted 39 of those addresses. The affected wallets held approximately $1.5 million in USDT when Tether restricted them, according to Elliptic’s findings.
Tether chief executive Paolo Ardoino argued that public blockchain records give investigators visibility into the movement of digital assets. He added that the company can restrict funds when law enforcement provides credible information about specific wallets. His remarks accompanied Tether’s renewed commitment to cooperate with authorities investigating sanctions evasion and other financial crimes.
Beyond Iran-related cases, Tether reports working with more than 340 law enforcement agencies across 67 countries. The company says its assistance has supported more than 2,800 investigations, including over 1,500 involving U.S. authorities. Those efforts have resulted in more than $4.9 billion in asset freezes, according to Tether’s figures.
Its U.S. cases include investigations into investment fraud, international scam networks, and transfers linked to the sanctioned Garantex exchange. However, those broader figures cover separate enforcement actions and do not form part of the Iran-linked total. Tether has also aligned its wallet-freezing policy with OFAC’s sanctions list, including listed wallets holding USDT in secondary markets.
Tether’s latest disclosure places its wallet restrictions alongside Treasury’s campaign against Iran’s financial networks. It also leaves the detailed breakdown of the company’s nearly $550 million Iran-linked figure unclear.
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