US Seeks $61M in Stolen USDT Linked to Sanctioned Iranian Oil
The US Department of Justice (DOJ) is seeking to seize over $61 million in Tether's USDT stablecoin, alleging it was tied to black-market sales of sanctioned Iranian oil. The funds were allegedly used to finance Iran's government and military, including the Islamic Revolutionary Guard Corps (IRGC).
The DOJ claims that Blessed Trust and Hexa Whale, both incorporated in Hong Kong, used Binance accounts to move proceeds from oil sold to buyers in China. A network of related addresses received and distributed over $1.5 billion, including transfers to IRGC-linked money-transfer businesses, cryptocurrency addresses, and an Iranian exchange.
Binance spokesperson stated that the exchange did not permit transactions with sanctioned individuals and would continue cooperating with law enforcement, including investigating, restricting or freezing accounts where appropriate.