US Targets $61M of Iranian Crypto Profits Laundered Through Binance

The US Department of Justice has filed a civil forfeiture complaint to seize $61 million worth of cryptocurrency allegedly laundered through Binance. The funds are linked to a scheme that helps Iran fund its nuclear program and military by selling black-market oil.

The Iranian government uses the illicit proceeds, totaling over $1.5 billion, to fund its programs. The US aims to deprive Iran of these profits and weaken its power.

Blessed Trust and Hexa Whale, two Chinese companies, allegedly laundered funds through Binance. They used the exchange to distribute the proceeds to Iran's government and linked proxies.