U.S. Seeks to Seize $61M in Crypto Tied to Black-Market Iran Oil Sales
The U.S. government has filed a civil forfeiture complaint against $61 million in cryptocurrency that it alleges are proceeds from black-market sales of sanctioned Iranian crude oil and petroleum products.
Tehran allegedly used a network of cryptocurrency actors, including two Chinese companies, Blessed Trust and Hexa Whale, to launder more than $1.5 billion in illicit oil money intended for the Iranian military and Islamic Revolutionary Guard Corps.
The complaint claims that these proceeds were meant to finance hostile military action and terrorist attacks against the U.S. and its allies.
Binance, the crypto exchange where Blessed Trust and Hexa Whale have trading accounts, has stated that it has zero tolerance for sanctions violations or illicit activity and will continue to cooperate with law enforcement on this matter.