$61M Crypto Forfeiture: DOJ Targets Iranian Oil Trade Money Laundered Through Binance
The US Department of Justice has filed a civil forfeiture complaint targeting $61 million in crypto assets allegedly connected to Iran's black-market oil trade. The funds, which moved through Binance accounts controlled by two China-based firms, Blessed Trust and Hexa Whale, are said to be part of a broader network that laundered over $1.5 billion in proceeds from Iranian oil sales.
The alleged scheme involved Blessed Trust and Hexa Whale misrepresenting their operations to financial institutions, presenting themselves as legitimate trading businesses while serving as conduits for Iranian oil money.
This forfeiture action is part of a coordinated campaign called 'Operation Economic Outcast,' launched by the Treasury Department in August 2026. The operation targets Iran's financial networks specifically, with a focus on actors exploiting crypto infrastructure to move sanctioned funds.