Israel Seeks Seizure of $1.5M in Tether Allegedly Linked to Iranian Military

Israel Calls for Crypto Seizure Over Alleged Iranian Ties

Israel's National Bureau for Counter Terror Financing (NBCTF) has requested the seizure of approximately $1.5 million in Tether (USDT) allegedly linked to Iran's Islamic Revolutionary Guard Corps (IRGC). The NBCTF published a list of 187 crypto addresses it claims the IRGC used to receive these funds.

Blockchain analytics firm Elliptic confirmed that the addresses received the substantial amount in USDT. However, they cautioned that it is difficult to definitively link all addresses directly to Iran, as some may be part of wider cryptocurrency service infrastructures.

Tether (USDT), the world's largest stablecoin by trading volume, has previously cooperated with law enforcement to freeze assets associated with illicit activities.

This move follows previous incidents, including a hack by the pro-Israel group Gonjeshke Darande that reportedly drained $90 million from Iranian exchange Nobitex, alleging connections to the IRGC. However, reports indicate that a significant portion of the hacked funds belonged to regular Nobitex users.

Iran has increasingly turned to cryptocurrencies to circumvent international sanctions. The US Department of Justice recently filed a civil forfeiture action against an Iranian national to recover USDT used to provide technology to the Iranian military.

The IRGC is reportedly one of the largest Bitcoin miners in Iran.

Key Takeaways:

• Israel is attempting to seize $1.5 million in USDT allegedly connected to the Iranian IRGC.
• The move highlights concerns surrounding the use of cryptocurrencies to evade sanctions.
• Tether has a history of cooperating with law enforcement to freeze illicit funds.