Crypto
US Seeks to Confiscate $61 Million in USDT Linked to Iranian Oil Sales
The U.S. Department of Justice is seeking to confiscate $61 million in USDT stablecoins linked to Iranian oil sales, allegedly conducted in violation of sanctions.
According to the Justice Department, Hong Kong-registered companies Blessed Trust and Hexa Whale used Binance accounts to move proceeds from oil sales to Chinese buyers. A network of related crypto addresses received and distributed over $1.5 billion.
The U.S. authorities claim that part of these funds was transferred to money-transfer businesses linked to the IRGC, cryptocurrency wallets, and an Iranian exchange.
Binance denies wrongdoing, stating that it does not permit transactions involving sanctioned individuals and cooperates with law enforcement agencies when necessary.