DOJ seeks to seize $61M in Iran-linked funds from Binance accounts

The US Department of Justice filed a civil forfeiture complaint on September 14 to seize $61 million in cryptocurrency linked to Binance accounts, allegedly connected to the sale of Iranian oil. Prosecutors claim these funds, associated with China-based firms Blessed Trust and Hexa Whale, were funneled to the Islamic Revolutionary Guard Corps. While Binance previously denied allegations of facilitating transactions for Iranian entities, the DOJ complaint alleges a network of wallets moved over $1.5 billion in illicit proceeds. This follows Binance's 2023 guilty plea regarding sanctions violations.