By PAUL O’DONOGHUE, Senior Correspondent
THE US Department of Justice (DOJ) is seeking to seize more than $61 million in cryptocurrency linked to Binance accounts.
Federal prosecutors allege that two Chinese companies used Binance trading accounts to move proceeds from Iranian oil sales.
The complaint says a wider cryptocurrency network handled more than $1.5 billion in illicit oil proceeds.
The DOJ said the funds are “intended to benefit the Iranian military and the terror-designated IRGC (Islamic Revolutionary Guard Corps).”
The two companies, Blessed Trust and Hexa Whale, presented themselves as a wealth management firm and commodities broker, according to the complaint.
“[They] used trading accounts at the UAE-based cryptocurrency exchange Binance to launder the proceeds of black-market sales of Iranian oil,” the DOJ said.
“Blessed Trust and Hexa Whale have also used the U.S. financial system to send or receive tens of millions of dollars as part of this scheme.”
The DOJ did not file the case against Binance. Prosecutors did not accuse Binance of wrongdoing in the case.
Binance response to DOJ case
“Binance has zero tolerance for sanctions violations or illicit activity, and Binance did not permit any transactions with sanctioned individuals,” a Binance spokesperson said.
“We will continue to cooperate with law enforcement on this matter. We will always investigate, restrict or freeze accounts where appropriate, offboard users, and report to relevant authorities.“
“Manhattan Deputy US Attorney Sean Buckley said: “We are seizing and seeking to forfeit more than $61 million of the Government of Iran’s money, which otherwise would have promoted hostile military action and terrorist attacks against the U.S. and our allies.”
According to the complaint, Tether froze about $61.19 million in USDT across 10 addresses on the Tron network in 2025.
A seizure warrant authorised the FBI to take custody of the assets.
The DOJ added: “A civil forfeiture complaint is merely an allegation. These allegations are not proven until a court awards a judgment in favor of the United States.”
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