China · DOJ · Iran · New York · U.S. Treasury · Crypto Briefing
US DOJ seeks forfeiture of $61 million in crypto tied to Iranian oil sales laundered through Binance accounts
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Two China-based firms allegedly moved funds through Binance trading accounts as part of a $1.5B network financing Iran's military operations.
Key facts
- On September 14, 2026, the US Attorney’s Office for the Southern District of New York filed a civil forfeiture complaint targeting roughly $61 million in crypto assets allegedly connected to Iran’s
- The exchange pleaded guilty in 2023 to sanctions violations and agreed to pay $4.3 billion in penalties, one of the largest corporate settlements in US financial history
- The September 14 complaint builds directly on congressional attention earlier in 2026, when lawmakers raised questions about Iran-linked activity spotted on Binance
- Two China-based firms allegedly moved funds through Binance trading accounts as part of a $1.5B network financing Iran's military operations
Summary
The US Department of Justice wants $61 million back. According to the complaint, Blessed Trust and Hexa Whale misrepresented their operations to financial institutions, presenting themselves as legitimate trading businesses while allegedly serving as conduits for Iranian oil money. The $61 million being sought is a slice of a much larger operation. This forfeiture action did not emerge in isolation.