$61M in Crypto Proceeds Linked to Iranian Oil Laundering Case

The U.S. Department of Justice has filed a civil forfeiture complaint against $61 million in cryptocurrency proceeds from the sale of Iranian oil, allegedly laundered through Binance.

This follows the launch of 'Operation Economic Outcast' by the U.S. Treasury to isolate Iran economically and target its crypto funds.

The DOJ alleges that two Chinese companies used trading accounts on Binance to funnel funds to the Iranian government and its proxies.

The complaint claims that this is just part of a larger sum of more than $1.5 billion in illicit oil money, intended to benefit the Iranian military and the terror-designated IRGC.