US Seizes $61M in Crypto Tied to Binance-Laundered Iranian Oil Sales
The US Department of Justice has seized $61 million in cryptocurrency allegedly laundered through Binance to facilitate the black-market sale of Iranian oil.
A civil forfeiture complaint filed by the US government claims that the selling of Iranian crude oil has generated over $1.5 billion in illicit crypto proceeds, which helps fund Iran's nuclear program and military.
The two Chinese companies at the center of this scheme are Blessed Trust and Hexa Whale, who allegedly used Binance to launder funds and distribute them to Iran's government and its proxies.
Binance has repeatedly denied any wrongdoing in these transactions, despite reports from various news outlets, including the Wall Street Journal, Fortune, and the New York Times, highlighting links between Iran and the Chinese companies.