US Prosecutors Target $61 Million in Crypto Linked to Sanctioned Iranian Oil
US prosecutors have filed a civil complaint seeking to seize $61 million in cryptocurrency, alleging it comes from sanctioned Iranian oil sales. The funds were allegedly laundered through intermediaries in China and other countries, reaching the Iranian government, military, and Islamic Revolutionary Guard Corps.
The money is held in USDT, a stablecoin issued by Tether, which has been instructed to freeze and transfer the targeted tokens to the custody of the US government. Two Chinese companies, Blessed Trust and Hexa Whale, are accused of using Binance accounts to facilitate the operations.
Seizure does not mean permanent confiscation; a court ruling is required for that. The investigation aims to uncover a scheme through which Tehran laundered more than $1.5 billion.