$61 Million in Cryptocurrency Linked to Iran's Sanctioned Oil Sales
The U.S. Attorney's Office for the Southern District of New York has filed a civil complaint to seize $61 million in cryptocurrency, which prosecutors allege comes from the illegal sale of Iranian oil and petroleum products.
According to the complaint, the funds were allegedly laundered through intermediaries in China and other countries before reaching the Iranian government, military, and Islamic Revolutionary Guard Corps.
Two Chinese companies, Blessed Trust and Hexa Whale, are accused of using Binance accounts to facilitate the operations, which allegedly transferred more than $1.5 billion.
The money is held in USDT, a stablecoin issued by Tether, and prosecutors are seeking its forfeiture as part of an ongoing investigation into the scheme.