Iran's $1.5 Billion Crypto Laundering Scheme Exposed

The US Department of Justice has announced that Iran laundered $1.5 billion in oil money through an active Chinese cryptocurrency network, filing a forfeiture action to seize $61 million in proceeds from the sale of sanctioned Iranian oil.

The operation is part of Operation Economic Outcast, which was declared on August 24, 2026, and aims to disrupt Iran's digital financial infrastructure. Treasury Secretary Scott Bessent had warned that digital assets would be among the next targets of the campaign.

The $61 million forfeiture complaint represents a recoverable portion of a much larger flow of funds, suggesting a systematic and sustained laundering operation rather than an isolated transaction.