5 anomalies within the OFAC-sanctioned wallets counsel the $344 million USDT freeze is probably not Iran-linked. The findings come from blockchain intelligence agency Nominis.
Nominis CEO Snir Levi revealed the evaluation Sunday, breaking down behavioral patterns of the seized addresses. The information factors towards overlap with Chinese language state-linked infrastructure quite than the Islamic Revolutionary Guard Corps (IRGC).
1. The Wallets Collected, Then Went Dormant
The designated addresses started transferring Tether (USDT) in mid-2021 and ramped up high-value transfers by means of early 2023. After February 2023, Nominis stated, the wallets fell largely inactive.
That accumulate-then-freeze form clashes with prior IRGC flows, which normally preserve funds in movement to dodge seizure.
2. Concentrated Balances Break From Previous IRGC Patterns
Previous IRGC clusters unfold funds throughout many wallets and capped particular person balances at a number of million {dollars}. Additionally they cycled holdings shortly to restrict publicity to freezes.
The wallets caught final week as an alternative carry giant, sustained balances over multi-year holding home windows.
3. Direct Publicity to Huobi and Huione Infrastructure
A root pockets within the cluster reveals transfers to Huobi, now HTX, and onward hyperlinks into Huione Group infrastructure.
Levi stated the exercise matches Chinese language-dominated trade conduct from round 2021, together with patterns Nominis tracks throughout HTX and associated platforms.
4. Asia-Aligned Operational Timing
A separate HTX deposit deal with acquired roughly $600,000 from wallets tied to the Central Financial institution of Iran.
Temporal evaluation of the deal with reveals buying and selling cycles aligned with Asia-based operations quite than Tehran working hours, Nominis stated.
5. Bitfinex Interactions and a 2025 Rip-off Overlap
One sanctioned pockets despatched small periodic transfers to Bitfinex-linked addresses. It additionally acquired a $5 inbound transaction that Levi flagged as doable testing conduct.
The identical pockets surfaced in 2025 inside a scam-related move, elevating the prospect that retail customers have been not directly uncovered to sanctioned infrastructure.
The place the Findings Sit Inside Operation Epic Fury
Treasury Secretary Scott Bessent stated final week america has seized near $500 million in Iranian crypto underneath Operation Epic Fury.
The $344 million in Tether frozen at OFAC’s request stays the marketing campaign’s largest single on-chain motion.
The strain builds on January’s Zedcex and Zedxion sanctions tied to alleged IRGC dealings close to $1 billion.
Levi argued static deal with blacklists not seize how state-linked teams evade sanctions on-chain.
The case stands out as stablecoin sanctions tooling has grow to be commonplace apply.
The put up 5 Causes Why OFAC’s $344 Million USDT Freeze Could Not Be Iran-Linked, Knowledgeable Reveals appeared first on BeInCrypto.