US Seeks $61M in Crypto Tied to Alleged Iranian Oil Sales via Binance Accounts

Federal prosecutors in New York have moved to confiscate about $61 million in cryptocurrency they believe is revenue from unsanctioned Iranian crude and petroleum sales.

The civil forfeiture complaint, filed by the US Attorney’s Office for the Southern District of New York (SDNY) on September 14, 2026, names the digital assets themselves rather than any exchange. Binance is not listed as a defendant.

Prosecutors say two China-linked firms used trading accounts on Binance to convert and move money generated by black-market oil deals. The firms, Blessed Trust Limited and Hexa Whale Trading Limited, marketed themselves as legitimate businesses but allegedly worked with Chinese oil and petroleum buyers to convert conventional payments into cryptocurrency.

The complaint alleges that the balances were then forwarded to Iranian agents, proxies, money-service businesses, and an Iranian exchange. Officials treat the $61 million as only one segment of a much larger flow, estimating that more than $1.5 billion was tied to illicit Iranian oil over time.