Overview
- Tether, which froze two Tron wallets on Thursday, said it acted at the request of U.S. authorities and blocked further transfers.
- Treasury Secretary Scott Bessent said Friday the funds were tied to Iran and that multiple wallets were sanctioned in a campaign to cut the regime’s funding channels.
- PeckShield identified the frozen Tron addresses holding about $213 million and $131 million in USDT, matching Tether’s total of roughly $344 million.
- Tether used its contract-level controls to blacklist the wallets, leaving balances visible on Tron but unable to be sent or received.
- Chainalysis and other firms reported patterns consistent with IRGC-linked flows, while the action renewed debate over issuer freeze powers as Tether touted past cooperation that it says helped freeze more than $4.4 billion.