Federal prosecutors in Manhattan have filed a civil forfeiture complaint targeting approximately $61 million in cryptocurrency allegedly tied to black-market Iranian oil sales laundered through Binance. Two Hong Kong-based entities, Blessed Trust and Hexa Whale Trading, are accused of facilitating fund transfers that ultimately supported the Iranian government, including entities linked to the Islamic Revolutionary Guard Corps. The broader alleged operation reportedly funneled over $1.5 billion in illicit oil proceeds toward Chinese buyers. This case comes as Binance remains under compliance scrutiny following a record $4.3 billion penalty in 2023 for anti-money laundering failures and sanctions violations.
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