US Seeks to Seize $61M Tether Stablecoin Linked to Alleged Iranian Oil Sales
US prosecutors have filed a civil forfeiture complaint against Tether's USDT stablecoin, seeking to seize approximately $61 million tied to alleged black-market Iranian oil sales. The funds are allegedly linked to the sale of over $1.5 billion in Iranian crude and petroleum.
The US Attorney’s Office for the Southern District of New York claims that the 10 Tron addresses targeted by the complaint received funds from an Iran-based exchange, Nobitex, and Middle Eastern money transmitters believed to be IRGC fronts.
Tether froze seven of the targeted addresses in June 2025 and another three in July. A seizure warrant issued this week authorizes federal agents to move the value into government custody.
Binance is mentioned as part of the alleged network, but prosecutors do not accuse the exchange of wrongdoing. Binance Chief Executive Richard Teng emphasized that the exchange has 'zero tolerance' for sanctions violations or illicit activity and cooperated with law enforcement since the matter was first raised months ago.