DOJ Sues Binance Over Alleged Iran Oil Laundering

The US Department of Justice has filed a lawsuit against Binance and two China-based companies, Blessed Trust and Hexa Whale, alleging they laundered over $1.5 billion in proceeds from the illicit sale of Iranian oil.

Authorities claim that these funds were intended to finance the Iranian government and entities affiliated with the Iranian military, including the IRGC, which the US designates as a terrorist organization.

The complaint alleges that Blessed Trust and Hexa Whale used trading accounts on Binance to help launder proceeds from the sale of Iranian oil. The companies allegedly presented themselves as legitimate businesses but were involved in transferring funds obtained from the sale of Iranian crude oil and petroleum products.