US DOJ Seeks $61M in Crypto Linked to Iran Oil Sales Network
The US Justice Department has filed a civil forfeiture complaint against over $61 million in cryptocurrency allegedly linked to Iran's black-market oil sales. Prosecutors claim that the proceeds from these transactions helped finance Iran's military and supported terrorist activity.
The complaint alleges that Iran used sanctioned crude oil sales to raise funds outside normal financial channels. Authorities also believe that a wider cryptocurrency network moved proceeds from those transactions, with crypto actors in China and other locations laundering more than $1.5 billion from illicit Iranian oil sales.
The Justice Department says the network moved funds toward Iran, its agents, and its proxies. The FBI officials involved say the case followed money flows connected to sanctions evasion and alleged terrorist financing.
Prosecutors identified two Chinese companies, Blessed Trust and Hexa Whale, in the complaint. They allege that both companies used Binance trading accounts to process proceeds from black-market Iranian oil sales. Binance has stated that it does not tolerate sanctions violations or illicit activity.