😱 Tether and Circle blocked a wallet linked to Iranian crypto exchange Wallex 🇮🇷

😱 Tether and Circle blocked a wallet linked to Iranian crypto exchange Wallex 🇮🇷
Tether and Circle froze USD 2.49 million after the exchange began transferring funds from the Tron and Ethereum networks to Binance Smart Chain (BSC) via cross-chain bridges.

➡️ Incident: the blocked address — 0x6926…43df — held approximately USD 117,000 at the time in Tether (USDT), USD Coin (USDC), and other minor tokens.

➡️ Observation: the simultaneous freezing of a wallet by the two largest stablecoin issuers within a short timeframe is a rare occurrence, potentially indicating coordinated compliance-related actions.

➡️ Background: in September, Israel🇮🇱 linked 187 crypto wallets to the Islamic Revolutionary Guard Corps (IRGC) and ordered the seizure of USD 1.5 million. Analysts noted that not all transactions could be definitively linked to the IRGC, although Tether had already blocked dozens of wallets from that list. In the context of recent developments and the joint United States🇺🇸–Israel actions involving Iran, efforts to disrupt IRGC-linked financial networks had been intensified.

➡️ Context: Wallex was founded in 2018 by a group of students from Sharif University of Technology in Tehran. In 2023, TRM Labs analysts reported that it ranked third in terms of incoming funds volume. Other notable Iranian exchanges include Nobitex, Excoino, and Aban Tether.

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