The US government has taken significant steps to disrupt Iran's use of cryptocurrencies for sanctions evasion as part of its 'Operation Economic Fury' campaign.
According to reports, nearly $500M in cryptocurrency linked to Iranian entities has been frozen as a result of the operation, with figures ranging from $344M to $500M across different waves of asset freezes.
The operation is seen as one of the most aggressive uses of on-chain tools against a sovereign nation's financial infrastructure.
US agencies have deployed advanced on-chain forensics to trace funds through transaction patterns linked to sanctioned Iranian entities, in collaboration with major stablecoin issuers such as Tether.
Tether confirmed that it assisted US authorities in freezing Iran-linked crypto wallets due to 'unlawful activities', marking a significant level of cooperation between the company and US authorities.
The operation is part of a broader strategy aimed at applying maximum pressure on Tehran, targeting Iran's funding channels across multiple fronts, including oil exports and financial mechanisms used for sanctions evasion.