$61M in Crypto Allegedly Laundered Through Binance for Iranian Oil Schemes

The US Justice Department has filed a civil forfeiture claim against $61 million in cryptocurrency allegedly laundered through Binance. The funds, according to prosecutors, were generated from Iranian black-market oil sales and used to finance military and terrorist activities.

US federal prosecutors in Manhattan alleged that two Chinese entities used trading accounts on Binance as part of a scheme to funnel the oil proceeds to Iran and its agents. This is just one part of a larger effort by Iran, according to US prosecutors, which saw more than $1.5 billion in illicit oil money laundered through cryptocurrency.

The claim was filed on September 14, 2026. The case highlights the ongoing efforts of governments to track and prevent the use of cryptocurrency for illicit activities.