U.S. · Iran · Federal Reserve (FED) · China · Decrypt
US Seeks Forfeiture of $61 Million in Crypto Linked to Alleged Iranian Oil Scheme
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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.
Key facts
- Prosecutors say the companies helped route payments through interconnected wallets identified as “Entity A,” which received and distributed more than $1.5 billion in oil proceeds
- That alleged transaction volume is separate from the approximately $61 million targeted for forfeiture
- That followed July sanctions that prompted Tether to freeze more than $131 million across four Tron wallets
- 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
Summary
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 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. “As alleged in the complaint filed today, the Government of Iran used a network of cryptocurrency actors in China and elsewhere to launder more than $1.5 billion in illicit oil money intended to benefit the Iranian military and the terror-designated IRGC,” Deputy U.S. Attorney Sean S.