$61M USDT Linked to Sanctioned Iran Oil Sales Targeted by US Authorities
US authorities have taken steps to seize $61.2 million in USDT tied to alleged black-market Iranian oil sales that moved through a network involving Binance accounts, Hong Kong companies, and U.S. financial institutions.
The civil action, filed September 14 in the Southern District of New York, targets USDT held across 10 TRON addresses. Prosecutors allege the funds originated from sales of sanctioned Iranian crude oil and petroleum products intended to benefit the Iranian government, military components, and the Islamic Revolutionary Guard Corps (IRGC).
Blessed Trust and Hexa Whale allegedly used Binance trading accounts to move proceeds from Iranian oil sold to buyers in China and convert fiat currency into cryptocurrency. Blessed Trust presented itself as a wealth manager or virtual asset custodian, while Hexa Whale operated publicly as a commodities broker.
The network transferred crypto to IRGC-related money-services businesses, addresses tied to the group, and Iranian exchange Nobitex. At least seven interconnected addresses received and distributed more than $1.5 billion in alleged Iranian oil proceeds.