US DOJ seeks $61 million in crypto proceeds from illicit Iranian oil sales laundered on Binance
Prosecutors alleged that two Chinese companies used Binance to launder those funds to Iran and its proxies.
The US Justice Department has filed a civil forfeiture claim seeking to reclaim $61 million allegedly laundered from Iranian oil sales through the cryptocurrency exchange Binance. The claim alleges that two Chinese entities, Blessed Trust Limited and Hexa Whale Trading, used Binance accounts to launder over $1.5 billion in illicit oil money.
The entities presented themselves as a wealth management firm and commodities broker, respectively. According to prosecutors, they received tens of millions of dollars via the US financial system as part of the scheme. Binance did not face any accusations of wrongdoing; instead, it stated it does not allow transactions with sanctioned individuals and will continue to cooperate with law enforcement.
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- US Justice Department says millions in Iran oil proceeds laundered on Binance businesstimes.com.sg
