$61 Million in Crypto Linked to Iranian Oil Sales Targeted by US Prosecutors

US prosecutors are seeking to seize $61 million in cryptocurrency linked to Iranian crude oil sales. The funds were allegedly laundered through Binance accounts by companies Blessed Trust and Hexa Whale, which presented themselves as asset management and commodities broker firms.

The US Attorney's Office for the Southern District of New York filed a civil forfeiture lawsuit on September 14, arguing that the targeted funds could have been used to finance Iran's government and military organizations. The complaint also identified an interconnected cryptocurrency wallet network called 'Entity A', which received over $1.5 billion in proceeds from Iranian crude sales.

Binance was not directly named as a defendant in the case, but its CEO Richard Teng stated that the company has a zero-tolerance policy toward sanctions violations and illicit activity. Binance previously removed Blessed Trust and Hexa Whale from their platform after internal investigations into Iran-linked transactions.