Tether’s $700 Million Wallet Freeze Target Iran-related funds on the Tron network

Tether is freezing 112 wallets that hold around $700 million in USDT on the Tron and Ethereum blockchains. This is linked to Israeli-Iran tensions, while also moving with a new push for stable legislation within the United States.

This action was first highlighted by an on-chain analyst known as Cryptadamist. Cryptadamist revealed that the majority of frozen wallets, especially the top 40, are hosted on the Tron blockchain. The move could highlight the use of USDT and Tron networks by Iranian crypto users and navigate international sanctions.

What is the connection between Iran and nobitex?

According to analyst reports, Nobitex, one of Iran’s biggest crypto exchanges, is a central player in this ecosystem.

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According to Cryptadamist, Nobitex openly instructs users how to bypass sanctions using an intermediate wallet when transferring USDT. The scale and openness of these activities raises eyebrows, following the recent $90 million nobitex hack, which is said to have been carried out by Israeli Hattivists.

Why is the timing of the freeze asking questions?

The 112 frozen address received nearly $700 million in USDT before it was frozen. The top four wallets were locked 4 days ago.

While some wallets could be tied to pig slaughter schemes, the timing of these freezes and platform-specific nature strongly points out that they focus on cryptographic activities associated with Iran.

Cryptadamist also pointed to a sudden and sudden decline in Bitcoin mining activities, particularly considering Iran’s important state-sponsored mining operations.

Are politics and profits part of the photo?

On-chain analysts also draw attention to Tether’s historical tolerance for Iran’s money flow, suggesting his willingness to “see the other way around” as long as profits continue. He stressed that Justinsan’s Tron blockchain is the backbone of Iran’s USDT flow, but questioned the current proximity to American politicians, including President Trump.

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Cryptadamist has released a previous report from Reuters showing that Vinance has facilitated more than $8 billion in relocation and relocation with Iranian exchanges. This is a potential violation of US sanctions. Binance and Justin Sun’s company are reportedly investigating Trump’s new Stablecoin Venture, USD1 partnership.

Although some market participants disagreed with this theory, Tether’s moves demonstrate efforts to tackle issues related to stable recruitment across borders.