U.S. Files Forfeiture Complaint Against $61 Million in Iranian-Linked Crypto Proceeds
The U.S. has filed a civil forfeiture complaint seeking to seize $61 million worth of cryptocurrency it claims originated from illicit sales of sanctioned Iranian oil and petroleum products. The funds were allegedly laundered through Chinese companies, including Blessed Trust and Hexa Whale, which used Binance accounts to transfer the money back to Iran or its proxies for military financing. The complaint alleges that Tehran generated over $1.5 billion in black-market revenue from these sales, with proceeds intended to support the Iranian Revolutionary Guard Corps (IRGC) and other government-backed activities. The U.S. argues this financial activity threatens national security by funding hostile actions against American interests. Binance has stated it does not permit transactions involving sanctioned individuals but will cooperate with law enforcement. Tether is reportedly involved in transferring seized tokens to the U.S. government, while Washington continues efforts to sanction entities facilitating Iranian oil trade. China remains a major buyer of Iranian crude, circumventing sanctions through barter-like arrangements and independent refineries.
Topics: cryptocurrency international sanctions Iran money laundering U.S. law enforcement