TLDR:
- NBCTF named 187 crypto wallets tied to IRGC, holding $1.5B in USDT, in its latest seizure order.
- Tether blacklisted 39 of these wallets, freezing $1.5M in USDT and halting all further transactions.
- Elliptic updated its tools to let exchanges and businesses screen the flagged wallet addresses instantly.
- U.S. authorities recently seized funds linked to IRGC’s drone program, continuing a wider enforcement push.
Israel has moved to cut off digital funding tied to sanctioned Iranian groups. The country’s National Bureau for Counter Terror Financing (NBCTF) published a new list of cryptocurrency wallets it linked to the Islamic Revolutionary Guard Corps (IRGC).
The IRGC has been under international sanctions for years, accused of supporting militant operations. The move comes as global watchdogs tighten their grip on crypto transactions tied to terror financing. The action also prompted immediate responses from blockchain analytics firms and stablecoin issuers.
Crypto Wallets Linked to IRGC Under Scrutiny
According to documents shared by the NBCTF, 187 wallet addresses were included in an administrative seizure order. These addresses are suspected of being tied to IRGC-controlled networks.
Collectively, they had received over $1.5 billion in Tether’s USDT stablecoin, though not all transfers may be linked directly to the IRGC. Some of the addresses appear to belong to exchange or service wallets used by multiple customers.
Blockchain analytics firm Elliptic confirmed it has updated its database to flag the listed addresses.
The firm said its Holistic blockchain analytics tools now allow users to screen these wallets and avoid processing funds linked to them. This is aimed at keeping exchanges, traders, and businesses from unintentionally handling restricted funds.
Tether also took action on September 13, blacklisting 39 of the listed wallets. The move froze around $1.5 million worth of USDT, effectively locking the addresses from sending or receiving new transactions. This highlights the central role stablecoin issuers can play when working with regulators.
This seizure is part of a wider global crackdown. The U.S. Department of Justice recently seized funds from Iranian national Mohammad Abedini, linked to IRGC’s drone program. Treasury actions last year also targeted addresses tied to IRGC-QF operations funding Yemen’s Houthi group.
IRGC’s Ongoing Use of Digital Assets
Crypto has long been associated with IRGC activity, as authorities continue to track and disrupt funding channels. Investigators have traced ransomware operations, infrastructure attacks, and weapons funding back to wallets linked to sanctioned Iranian operatives.
In June, pro-Israel hackers stole over $90 million from Iranian exchange Nobitex. They sent the funds to wallets with anti-IRGC messages embedded in their names. Nobitex has previously been flagged for being used by sanctioned IRGC operatives.
Authorities say the transparency of blockchain makes such investigations faster and more effective. They argue that cooperation between regulators, blockchain firms, and exchanges is essential for disrupting illicit networks.
The NBCTF’s publication of the wallet list and Tether’s action shows how quickly enforcement can move in the crypto space. Market participants are now expected to screen transactions against the updated data to avoid violations.
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