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U.S. DOJ Seeks $61M in Alleged Iran Oil Crypto Proceeds
Federal prosecutors say the money came from black-market oil sales and that Iran used crypto to launder more than $1.5 billion.
- On Monday, the US Justice Department filed a civil forfeiture claim seeking $61 million in Iranian oil proceeds allegedly laundered through the cryptocurrency exchange Binance.
- Two entities, Hexa Whale Trading Limited and Blessed Trust Limited, allegedly used Binance accounts to funnel money to Iran's Islamic Revolutionary Guard Corps to finance military and terrorist activities.
- Federal prosecutors in Manhattan alleged that Iran utilized cryptocurrency to launder more than $1.5 billion in illicit oil proceeds; Manhattan Deputy US Attorney Sean Buckley stated the seizure prevents funds from promoting attacks.
- Binance stated it cooperated with law enforcement and that its compliance program remains robust, having previously offboarded Hexa Whale and Blessed Trust before the reports earlier this year.
- The exchange faced intense scrutiny in 2023 when the Justice Department charged the company for flouting anti-money laundering rules; Binance paid a $4.3 billion fine, and President Donald Trump pardoned co-founder Changpeng Zhao last year.
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23 Articles
23 Articles
(Seoul = Yonhap News) Reporter Lee Ji-heon = The Iranian Islamic Revolutionary Guard Corps (IRGC) [paid] proceeds from the sale of Iranian crude oil through Binance, the world's largest cryptocurrency trading platform...
·Seoul, Korea (the Republic of)
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Coverage Details
Total News Sources23
Leaning Left0Leaning Right4Center3Last UpdatedBias Distribution57% Right
Bias Distribution
- 57% of the sources lean Right
57% Right
C 43%
R 57%
Factuality
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