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Binance Accounts Used to Launder Iranian Oil Money: US Charges Two China-Based Firms

Guavy AI Editorial Team
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Prosecutors in the US have accused two China-based companies of using Binance accounts to launder money from the sale of Iranian crude oil and petroleum products.

The Department of Justice said that a wider cryptocurrency network moved over $1.5 billion in illicit proceeds to Iran-linked entities.

According to the prosecutors, the two companies acted as cryptocurrency service providers for the illegal transactions, which involved millions of dollars' worth of cryptocurrency.

The US is seeking to seize about $61 million in cryptocurrency allegedly linked to the sanctioned oil sales.

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