$61 Million Crypto Seized in Iran Oil Sanctions Evasion Case
The US Department of Justice has filed a civil forfeiture complaint seeking to seize $61 million in cryptocurrency allegedly used by Iranian companies Blessed Trust and Hexa Whale to launder proceeds from black-market sales of sanctioned Iranian crude oil.
The funds were transferred through the UAE-based cryptocurrency exchange Binance, with the ultimate goal of financing the government of Iran and its military components, including the Islamic Revolutionary Guard Corps (IRGC), a designated terrorist organization.
Deputy US Attorney Sean S. Buckley stated that 'Today's action demonstrates our determination to deprive the Government of Iran and its terrorist proxies of the illegal money they rely on to threaten the lives and safety of the citizens of the United States and elsewhere.'