DOJ Files Complaint to Seize 61 Million USD in Iran Oil Funds from Binance Accounts

The US Attorney's Office for the Southern District of New York filed a civil forfeiture complaint on September 14 against 61 million USD in cryptocurrency linked to Binance accounts and black market sales of Iranian oil. Prosecutors allege the funds were transferred through trading accounts held by Blessed Trust and Hexa Whale, two China-based firms, before reaching Iran's Islamic Revolutionary Guard Corps (IRGC), designated as a terrorist organization by the US. Deputy US Attorney Sean Buckley stated that the action aims to deprive the Iranian government and its proxies of illegal funds. The complaint names the same entities involved in a Senate probe earlier this year. Binance has previously denied allegations of wrongdoing, asserting that no funds directly touched Iranian entities. However, the complaint claims a network of wallets, referred to as Entity A, moved over 1.5 billion USD in illicit Iranian oil proceeds to IRGC-linked services and an Iranian exchange. This is not the first instance of Binance-related accounts appearing in Iran sanctions reports. The Justice Department's complaint does not name Binance as a defendant, targeting the cryptocurrency itself and the alleged roles of Blessed Trust and Hexa Whale. The filing comes just two weeks before Binance's planned UK license application opens on September 30, amid ongoing scrutiny.

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