US DOJ seeks $61M in crypto tied to Iranian oil sales

cryptocurrency seizure Iranian oil sanctions Binance money laundering Operation Economic Outcast

The US Department of Justice has filed a civil forfeiture complaint to seize approximately $61 million in cryptocurrency. Prosecutors allege these funds are derived from the black-market sale of sanctioned Iranian oil and petroleum products.

The complaint claims the funds were laundered through trading accounts on the Binance exchange. These accounts were allegedly controlled by two China-based firms, Blessed Trust and Hexa Whale, which acted as conduits to transfer proceeds to the Iranian government and its proxies, including the Islamic Revolutionary Guard Corps (IRGC).

This legal action is part of ‘Operation Economic Outcast,’ a Treasury Department initiative aimed at targeting Iran’s financial networks. Investigators identified a broader network, referred to as ‘Entity A,’ which allegedly processed more than $1.5 billion in illicit oil proceeds through various cryptocurrency wallets and services.

Entities

Binance · Blessed Trust · Hexa Whale · Hossein Aghayari · Iran · Islamic Revolutionary Guard Corps · Ministry of Petroleum · National Iranian Oil Company · US Department of Justice

Claims

What the coverage asserts, and how many sources carry each claim.

[● 6 SOURCES] The DOJ filed a civil forfeiture complaint against approximately $61 million in cryptocurrency. bitcoinethereumnews.com · coingape.com · cryptobriefing.com · mycryptoparadise.com · www.tokenpost.com · +1 more
[● 6 SOURCES] The broader network allegedly laundered more than $1.5 billion in illicit Iranian oil proceeds. bitcoinethereumnews.com · coingape.com · cryptobriefing.com · mycryptoparadise.com · www.tokenpost.com · +1 more
[● 6 SOURCES] The $61 million in crypto is allegedly tied to black-market sales of sanctioned Iranian oil. bitcoinethereumnews.com · coingape.com · cryptobriefing.com · mycryptoparadise.com · www.tokenpost.com · +1 more
[● 6 SOURCES] The funds were allegedly moved through trading accounts on Binance controlled by two China-based firms, Blessed Trust and Hexa Whale. bitcoinethereumnews.com · coingape.com · cryptobriefing.com · mycryptoparadise.com · www.tokenpost.com · +1 more
[● 6 SOURCES] The proceeds were intended to benefit the Islamic Revolutionary Guard Corps (IRGC). bitcoinethereumnews.com · coingape.com · cryptobriefing.com · mycryptoparadise.com · www.tokenpost.com · +1 more
[● 6 SOURCES] Binance is not named as a defendant in the civil forfeiture complaint. cryptobriefing.com · bitcoinethereumnews.com · mycryptoparadise.com · www.tokenpost.com · coingape.com · +1 more
[● 6 SOURCES] The forfeiture action is part of the Treasury Department’s ‘Operation Economic Outcast’. coingape.com · cryptobriefing.com · bitcoinethereumnews.com · mycryptoparadise.com · www.tokenpost.com · +1 more
[● 7 SOURCES] The US Department of Justice filed a complaint to seize approximately $61 million in cryptocurrency allegedly derived from the black market sale of sanctioned Iranian crude oil and petroleum products. aftabnews.ir · bitcoinethereumnews.com · mycryptoparadise.com · www.tokenpost.com · coingape.com · +2 more
[○ 1 SOURCE] Sean Buckley, Deputy US Attorney for the Southern District of New York, stated the action demonstrates resolve to deprive the Iranian government and its proxies of illicit funds used to threaten US-v- aftabnews.ir
[○ 1 SOURCE] The US government alleges the Iranian government used a network of cryptocurrency actors in China and other locations to launder over $1.5 billion in illicit oil proceeds to benefit the military and Q aftabnews.ir
[○ 1 SOURCE] Two Chinese companies, Blessed Trust and Hexa Whale, allegedly used Binance trading accounts in the United Arab Emirates to launder proceeds from Iranian oil sales. aftabnews.ir