US Seeks Forfeiture of $61 Million in Crypto Linked to Alleged Iranian Oil Scheme
Federal prosecutors are seeking to forfeit about $61 million in cryptocurrency they say is tied to black-market Iranian oil sales. The civil complaint alleges Chinese firms Blessed Trust and Hexa Whale used Binance accounts and interconnected wallets to launder more than $1.5 billion in oil proceeds for Iranian government and military interests, including the Islamic Revolutionary Guard Corps. Prosecutors say the companies disguised themselves as legitimate crypto or brokerage businesses while converting oil payments into crypto and routing funds to IRGC-linked entities, exchanges, and addresses. Officials said the effort is meant to cut off financing for Iran’s military and terror-linked groups. The filing follows broader U.S. action against Iran-linked crypto activity. The allegations are unproven unless a court grants forfeiture.
