US Seeks Forfeiture of $61 Million in Crypto Tied to Iranian Oil Sales

The US Attorney's Office for the Southern District of New York has filed a civil forfeiture complaint against approximately $61 million in cryptocurrency allegedly linked to black-market sales of sanctioned Iranian crude oil and petroleum products.

The funds, according to the complaint, were intended to finance the Iranian government and military components, including the Revolutionary Guards.

Deputy US Attorney Sean Buckley stated that 'Today's action demonstrates our determination to deprive the Government of Iran and its terrorist proxies of the illegal money they rely on to threaten the lives and safety of the citizens of the United States and elsewhere.'

The complaint alleges that two Chinese companies, Blessed Trust and Hexa Whale, used trading accounts at UAE-based cryptocurrency exchange Binance to launder proceeds from black-market Iranian oil sales.