$61 Million Crypto Seized from Iranian Oil Sales to Fund Military and Terrorism

Federal prosecutors in New York have filed a civil forfeiture complaint seeking approximately $61 million in cryptocurrency generated by black-market sales of sanctioned Iranian oil.

The proceeds were intended to finance Iran's government and military components, including the Islamic Revolutionary Guard Corps (IRGC), a designated terrorist organization, according to the U.S. Attorney's Office for the Southern District of New York.

Deputy U.S. Attorney Sean S. Buckley stated that 'The Government of Iran relies on black-market sales of sanctioned crude oil to fund its military and foster terrorism in the Middle East and around the world.'

The complaint alleges that two Chinese firms, Blessed Trust and Hexa Whale, shifted oil proceeds through Binance accounts in the United Arab Emirates and moved tens of millions of dollars through the U.S. financial system.