On-Chain Analysis Questions U.S. 'Iranian Crypto Asset' Accusation: Some Seized Wallets Potentially Linked to Activities in Other Countries

BlockBeats News, May 3rd. According to Nominis analysis, some of the "Iran-related" crypto wallets recently seized and frozen by the U.S. OFAC may not exhibit typical behavior associated with the Islamic Revolutionary Guard Corps (IRGC), suggesting possible involvement of other national-level actors. Previously, the U.S. Treasury Department announced the freezing of over $340 million in the "Operation Economic Fury," totaling nearly $500 million in Iranian-related crypto assets.

Nominis CEO Snir Levi stated that historically, IRGC-related wallets would often distribute funds to multiple addresses, maintain low single-wallet balances, avoid long-term holdings, and employ complex maneuvers to mitigate the risk of freezing. However, the wallets seized this time show significant differences in fund structure and behavioral patterns. He raised a crucial question: how much of the frozen $340 million in assets is directly controlled by the IRGC, and how much is associated with a broader infrastructure overlapping with other countries' financial networks.

Levi also pointed out that organizations, including the IRGC and potential national-level actors from China, are continuously enhancing their usage of blockchain infrastructure. Traditional static risk labels are no longer sufficient, making behavioral analysis and address clustering increasingly critical.