DOJ seeks forfeiture of $61 million tied to Iranian oil money laundered via Binance
The Manhattan office of the US Justice Department filed a civil forfeiture claim to seize $61 million it says was derived from Iran’s illicit oil sales and moved through Binance.
Manhattan federal prosecutors have filed a civil forfeiture action to confiscate more than $61 million they contend originated from Iran’s black-market oil revenues and was processed through the cryptocurrency exchange Binance. The complaint accuses two China-registered entities, Blessed Trust Limited and Hexa Whale Trading Limited, of operating Binance trading accounts to move the oil proceeds to Iran, its agents and proxies, where the funds allegedly support military and terrorist operations.
Prosecutors also claim the scheme utilized the US financial system to shift tens of millions of dollars. Binance responded that it does not permit transactions with sanctioned parties and will continue to cooperate with law-enforcement, noting it had already off-boarded the implicated firms. The forfeiture follows earlier investigations that found more than $1 billion in crypto had passed through Binance to Iranian groups linked to the Islamic Revolutionary Guard Corps. Binance previously settled a 2023 anti-money-laundering case, paying a $4.3 billion fine after co-founder Changpeng Zhao pleaded guilty; Zhao was pardoned by Donald Trump in 2025.
Why it matters
The case highlights how cryptocurrency platforms can be used to fund sanctioned regimes and terrorist activities.
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