US Seeks $61M in Crypto Linked to Black-Market Iranian Oil Sales
The US Department of Justice has filed a civil forfeiture complaint against $61 million in cryptocurrency that it claims are proceeds from black-market sales of Iranian crude oil and petroleum products.
The alleged scheme involved two Chinese companies, Blessed Trust and Hexa Whale, which used trading accounts at the Binance crypto exchange to launder the illicit funds to the Government of Iran, its agents, and/or its proxies.
The complaint alleges that Tehran used a network of cryptocurrency actors in China and elsewhere to launder more than $1.5 billion in illicit oil money intended to benefit the Iranian military and the Islamic Revolutionary Guard Corps.
Binance spokesperson said the exchange has 'zero tolerance for sanctions violations or illicit activity' and will continue to cooperate with law enforcement on this matter.