Commodities
$61M in Cryptocurrency Linked to Sanctioned Iranian Oil Seized by US Authorities
The US Department of Justice has filed a civil complaint seeking the forfeiture of $61 million in cryptocurrency, which is linked to illegal sales of sanctioned Iranian oil.
The funds were laundered through trading accounts on Binance by two Chinese companies, Blessed Trust and Hexa Whale. The assets were then routed to Iranian authorities, their representatives, and related entities.
The scheme involved the conversion of proceeds from Iranian oil sales into cryptocurrency, including services provided by US digital asset issuers. Investigators alleged that both companies presented themselves as legitimate businesses but engaged in illicit activities with clients from China's oil sector.