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U.S. seeks to seize $61 million of crypto it claims are proceeds from Iranian petroleum sales to Chinese buyers
Prosecutors say the frozen tokens were laundered through Binance accounts and tied to more than $1.5 billion in Iranian oil proceeds.
- On Monday, the US Justice Department filed a civil forfeiture claim seeking $61 million in Iranian oil proceeds allegedly laundered through the cryptocurrency exchange Binance.
- Two entities, Hexa Whale Trading Limited and Blessed Trust Limited, allegedly used Binance accounts to funnel money to Iran's Islamic Revolutionary Guard Corps to finance military and terrorist activities.
- Federal prosecutors in Manhattan alleged that Iran utilized cryptocurrency to launder more than $1.5 billion in illicit oil proceeds; Manhattan Deputy US Attorney Sean Buckley stated the seizure prevents funds from promoting attacks.
- Binance stated it cooperated with law enforcement and that its compliance program remains robust, having previously offboarded Hexa Whale and Blessed Trust before the reports earlier this year.
- The exchange faced intense scrutiny in 2023 when the Justice Department charged the company for flouting anti-money laundering rules; Binance paid a $4.3 billion fine, and President Donald Trump pardoned co-founder Changpeng Zhao last year.
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86 Articles
U.S. Authorities Are Seeking Forfeiture of $61,000,000 in Cryptocurrency from Alleged Iranian Oil Smuggling
U.S. prosecutors filed a civil forfeiture complaint targeting $61 million in crypto allegedly laundered from black-market Iranian oil sales to fund the government and IRGC. Chinese firms used Binance accounts to move over $1.5 billion in illicit proceeds.
Coverage Details
Total News Sources86
Leaning Left3Leaning Right6Center9Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 17%
C 50%
R 33%
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