The US Department of Justice filed a civil forfeiture complaint on September 14, 2026, targeting approximately $61 million in cryptocurrency assets allegedly connected to Iran’s black-market oil trade. The funds allegedly moved through Binance trading accounts controlled by two China-based firms, Blessed Trust and Hexa Whale. Prosecutors allege this amount is part of a broader network that laundered over $1.5 billion in proceeds from Iranian oil sales, routing funds to entities linked to the Islamic Revolutionary Guard Corps, designated as a terrorist organization by the US government. This action is part of Operation Economic Outcast, a campaign launched by the US Treasury Department in August 2026 targeting Iran’s financial networks exploiting crypto infrastructure. Binance is not named as a defendant in this complaint, having already pleaded guilty in 2023 to sanctions violations and agreed to pay $4.3 billion in penalties.
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