The Office of Foreign Assets Control (OFAC), the sanctions arm of the US Treasury, targeted multiple cryptocurrency wallets it says are connected to Iran, freezing more than $130 million in digital assets. Treasury Secretary Scott Bessent announced the action, which forms part of Washington's broader campaign to disrupt financial channels the government alleges Tehran uses to evade existing sanctions. By designating specific wallet addresses, OFAC restricts US persons and regulated exchanges from transacting with them, effectively cutting off access to the funds. The move underscores how blockchain analysis increasingly enables authorities to trace and target illicit or sanctioned crypto flows. It also highlights the growing role of digital assets in geopolitical enforcement, as regulators pursue actors accused of using cryptocurrency to bypass traditional banking restrictions. Further details on the sanctioned entities and the origin of the frozen assets were not immediately disclosed.
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