US seeks $61 million in crypto linked to Iranian oil sales

Reading Time: < 1 minute

The US Department of Justice is seeking to seize about $61 million in cryptocurrency allegedly linked to illicit Iranian oil sales.

A civil forfeiture complaint alleges that proceeds from sales of sanctioned Iranian crude oil and petroleum products were laundered through cryptocurrency and ultimately routed to the Iranian government and its military-linked proxies.

The DOJ said two Chinese companies, Blessed Trust and Hexa Whale, used Binance trading accounts to move the funds. Prosecutors said the transactions were intended to support Iran’s government and the Islamic Revolutionary Guard Corps (IRGC), which the US designates as a terrorist organisation.