In a significant move, Israel's National Bureau for Counter Terror Financing has released a list of cryptocurrency addresses allegedly linked to Iran's Islamic Revolutionary Guard Corps (IRGC). Based on the data provided in the document, this announcement comes as part of ongoing efforts to combat terrorism financing, with the bureau claiming that these addresses have facilitated the transfer of $15 billion in USDT, a popular stablecoin.
Identification of Crypto Addresses
The bureau's report identifies 187 crypto addresses that it believes should be seized due to their connection with the IRGC. However, blockchain analytics firm Elliptic has raised concerns about the accuracy of these claims, stating that while the addresses have received substantial amounts of Tether's USDT, it cannot definitively link all of them to Iran. Some addresses may be controlled by cryptocurrency services rather than the IRGC directly.
Significance of Potential Asset Seizure
The potential seizure of these assets is significant, given that USDT is the fourth largest digital asset by market capitalization. Tether, the issuer of USDT, has a history of cooperating with law enforcement agencies to freeze assets associated with criminal activities. This latest development occurs against a backdrop of heightened tensions between Israel and Iran, both of which have a long-standing history of conflict and rivalry.
Currently, federal prosecutors in Albany have taken significant action against cryptocurrency fraud by filing a civil forfeiture complaint to recover over $12 million in Tether's USDT stablecoin, as detailed in the latest report.
