U.S. Prosecutors Pursue $61 Million From Iran’s High‑Risk Crypto Oil Scheme
TL;DR
- The U.S. Department of Justice filed a civil forfeiture lawsuit for $61 million in cryptocurrencies linked to illegal Iranian oil sales.
- The funds would have been directed to the Iranian government and the Islamic Revolutionary Guard Corps, designated a terrorist organization by the U.S.
- Two Chinese companies, Blessed Trust and Hexa Whale, allegedly acted as facilitators using Binance accounts to launder the funds.
The United States Department of Justice filed a civil forfeiture lawsuit against $61 million in cryptocurrencies that, according to the indictment, originate from illegal sales of crude oil and Iranian petroleum derivatives on the black market.
The funds would have been channeled to the Iranian government and its military branches, including the Islamic Revolutionary Guard Corps (IRGC), designated a terrorist organization by Washington.
Iran Turns to Cryptocurrencies to Evade Sanctions and Blockades
“Today we demonstrate our determination to deprive the Iranian government and its terrorist proxies of the illegal money they use to threaten the lives and safety of citizens of the United States and other countries,” stated deputy prosecutor Sean S. Buckley. The official also noted that Iran funds its nuclear program and ballistic missile development through these oil sales.
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