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yesterday

U.S. Sanctions Iran Oil‑Crypto Network as Israel Orders Seizure of 187 Wallets

The coordinated actions target shadow‑banking networks that convert Iranian oil proceeds into stablecoins for military‑linked financing.

FILE - The Treasury Department building is seen, March 13, 2025, in Washington. (AP Photo/Alex Brandon, File)
Military members of the Iranian police special forces shout anti-U.S. and anti-Israeli slogans as one of them holds a poster featuring portraits of the former commander of the Islamic Revolutionary Guard Corps Quds Force, Major General Qassem Soleimani, who is killed in a U.S. strike in Baghdad, and Brigadier-General Amir Ali Hajizadeh, former Commander of the IRGC - Aerospace Force, during a ceremony at the Imam Khomeini Grand Mosque in Tehran, Iran, on August 7, 2025, to commemorate the civilians and Islamic Revolutionary Guard Corps (IRGC) generals killed during the 12-day war between Iran and Israel. (Photo by Morteza Nikoubazl/NurPhoto via Getty Images)
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Israel

Overview

  • OFAC designated Iranians Alireza Derakhshan and Arash Estaki Alivand and front companies in Hong Kong and the UAE for moving over $100 million in cryptocurrency tied to oil sales since 2023.
  • Treasury said the network funneled funds that benefited the IRGC‑Qods Force and Iran’s defense ministry, blocking assets and prohibiting U.S. dealings with the listed individuals and entities.
  • Israel’s National Bureau for Counter Terror Financing published 187 USDT addresses it says are IRGC property, noting historical inflows of roughly $1.5 billion and current balances near $1.5 million.
  • Blockchain firm Elliptic reported it cannot verify IRGC ownership for all addresses and said some may be service wallets, while Tether has already blacklisted about 39 of the listed addresses.
  • Recent related actions include a U.S. Justice Department seizure of $584,741 from an Iranian national tied to an IRGC drone program and a June hack that drained about $90 million from Iran’s Nobitex exchange.