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US Seeks Forfeiture of $61 Million in Crypto Linked to Alleged Iranian Oil Scheme

US Seeks Forfeiture of $61 Million in Crypto Linked to Alleged Iranian Oil Scheme

In brief

  • U.S. prosecutors are seeking forfeiture of approximately $61 million in cryptocurrency.
  • A related wallet network allegedly handled more than $1.5 billion in Iranian oil proceeds.
  • The civil complaint’s allegations remain unproven.

Federal prosecutors are seeking forfeiture of approximately $61 million in cryptocurrency allegedly linked to black-market Iranian oil sales, targeting funds they say were intended to finance Iran’s government and military.

The civil forfeiture complaint announced Monday alleges that Chinese companies Blessed Trust and Hexa Whale used Binance trading accounts to launder proceeds benefiting Iranian entities, including the Islamic Revolutionary Guard Corps, a U.S.-designated terrorist organization.

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