DOJ Targets $61M in Cryptocurrency Tied to Sanctioned Iranian Oil Sales
US authorities are seeking to seize $61 million in USDT stablecoin from ten Tron network addresses, alleging that it represents proceeds from black-market sales of sanctioned Iranian crude oil laundered through Binance accounts.
The civil forfeiture complaint targets two Chinese companies, Blessed Trust Limited and Hexa Whale Trading Limited, which prosecutors say served as fronts for converting fiat currency tied to Iranian oil revenue into cryptocurrency.
According to the complaint, both firms presented themselves as legitimate financial institutions but secretly helped route oil proceeds through Binance trading accounts and into a network of self-custodied wallets.
The action is part of a broader US campaign against Iran's use of digital assets to circumvent sanctions. In June, the Treasury's Office of Foreign Assets Control designated Nobitex, Iran's largest crypto exchange, along with three other Iranian platforms.