US Seeks to Freeze $61M in Iran-Linked Crypto Tied to Binance
The US government has launched an attempt to forfeit and take ownership of approximately $61 million worth of cryptocurrency generated from the sale of Iranian oil on the Binance exchange. This move is part of a larger effort to disrupt Iran's ability to raise funds for its military and terrorist activities.
A complaint filed by the US Attorney's Office for the Southern District of New York and the FBI alleges that a network of companies and cryptocurrency addresses helped move money generated from black-market sales of Iranian crude oil and petroleum products. This process allegedly involved laundering the money through Binance accounts, which were used to transfer funds to Iran and its proxies.
The complaint mentions that the Iranian government and entities connected to the Islamic Revolutionary Guard Corps (IRGC) were the intended beneficiaries of these funds. The IRGC has been designated as a foreign terrorist organization by the United States.