US Freezes $344M in Cryptocurrencies Linked to Sanctioned Iranian Entities

The US government has taken steps to clamp down on financial transactions linked to Iran, freezing over $344 million in cryptocurrencies associated with sanctioned entities.

The Office of Foreign Assets Control (OFAC) made the move as part of a broader strategy to disrupt Iran's access to global financial networks, including through cryptocurrencies. This comes amid heightened geopolitical tensions between the US and Iran.

US authorities are closely tracking illicit financial flows and warning that any attempts by Tehran to move funds abroad will be targeted. The Treasury Secretary emphasized that the US will follow the money and target all financial lifelines tied to the regime.