U.S. Authorities Seek Forfeiture of $61 Million in Crypto Linked to Iranian Oil Smuggling

U.S. prosecutors have filed a civil forfeiture complaint against $61 million in cryptocurrency allegedly used to launder proceeds from sanctioned Iranian oil sales. The scheme involved two Chinese firms, Blessed Trust and Hexa Whale, which reportedly used Binance accounts to funnel funds to the Iranian government and the Islamic Revolutionary Guard Corps. The firms allegedly disguised their activities by posing as wealth management and commodity brokerage services, while a network of unhosted addresses handled over $1.5 billion in illicit oil proceeds.