US Seeks $61 Million in Crypto Linked to Iran's Black-Market Oil Sales

The U.S. Department of Justice (DOJ) has filed a civil forfeiture complaint against $61 million in cryptocurrency, alleging it was part of Iran's black-market oil sales.

The funds were said to be part of a $1.5 billion network that moved oil proceeds through unhosted cryptocurrency wallets and an Iranian exchange, with ties to the Revolutionary Guards.

Prosecutors claim two Chinese companies, Blessed Trust and Hexa Whale, laundered much of the money through Binance accounts, using them as trading platforms for black-market oil sales.

Binance denied any wrongdoing, stating it had zero tolerance for sanctions violations and did not permit transactions with sanctioned individuals.