Analyst Doubts Iran Link on OFAC's $500M Crypto Seizures Amid Hormuz Fee Sanctions Warning

US Treasury's OFAC issued a May 2 advisory warning that cryptocurrency payments for Iran's Strait of Hormuz passage fees violate sanctions, risking penalties for US and non-US entities, while analysts question if $500M in seized wallets under Operation Economic Fury truly belong to Iran. The campaign escalated from March 12 revelations of $1.7B Binance flows to Iran-linked entities, to April 24's $344M freeze on Tron wallets—coordinated with Tether blocking USDT—linked to Iran's central bank which received $370M since 2021. This progression heightens crypto compliance risks amid BTCUSD near $77,400.