U.S. Seizes $61 Million in Crypto from Iranian Oil Sales on Binance
The U.S. Attorney's Office for the Southern District of New York filed a civil forfeiture complaint targeting approximately $61 million in cryptocurrency linked to illegal sales of Iranian crude oil and petroleum products. Prosecutors allege that two Chinese companies, Blessed Trust and Hexa Whale, used accounts on Binance to launder funds from these illicit transactions, funneling money to Iran's government and its proxies, including the Islamic Revolutionary Guard Corps (IRGC), a U.S.-designated terrorist organization. The complaint outlines how over $1.5 billion in revenue has flowed through unhosted cryptocurrency addresses linked to the scheme, with funds ultimately reaching entities connected to the IRGC. The companies are accused of obscuring the source and ownership of these transactions while using parts of the U.S. financial system for transfers totaling tens of millions of dollars. Binance stated it opposes sanctions violations or illicit activity and will continue cooperating with law enforcement by freezing accounts where risks are identified.
Topics: binance crypto fbi iranian_oil_sales money_laundering