Add as a preferred source on GoogleDOJ Seeks $61.2 Million in Crypto Tied to Iranian Oil Sales
The civil forfeiture complaint alleges Binance accounts were used in transactions involving proceeds from Iranian oil sales. Binance says it later offboarded the two Hong Kong entities named in the case.
The U.S. Department of Justice is seeking the forfeiture of 61,192,367.59 Tether (USDT) allegedly linked to Iranian oil sales, in a case involving transactions through Binance accounts.
The civil forfeiture complaint, filed Sept. 14, alleges that 10 frozen addresses received and distributed more than $1.5 billion in proceeds from Iranian oil sales intended to benefit Iran’s Islamic Revolutionary Guard Corps.
The complaint alleges that Hong Kong-based Hexa Whale Trading Limited and Blessed Trust Limited used Binance trading accounts for related cryptocurrency transactions. It alleges that one company sent about $37.15 million to Hexa Whale in March and April 2024, while about $443.49 million went to Blessed Trust between Nov. 13, 2024, and March 5, 2025.
Binance says it offboarded Hexa Whale on Aug. 13, 2025, and Blessed Trust in January 2026 after law-enforcement inquiries and internal reviews. The exchange also says no Binance account transacted directly with an Iran-based entity.
The action comes after Binance’s November 2023 settlement with the DOJ, which required stronger anti-money-laundering and sanctions controls and a three-year independent compliance monitorship. The forfeiture allegations have not been proven unless a court enters judgment.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.