The U.S. Department of Justice is seeking to forfeit $61 million that it says came from Iranian black-market oil sales and was laundered through crypto exchange Binance, according to Bloomberg. In a civil forfeiture complaint, federal prosecutors in Manhattan alleged that Iran used a network of cryptocurrency actors to wash more than $1.5 billion in illicit oil proceeds. Prosecutors said the entities involved used Binance trading accounts to move oil revenue to Iran, as well as its agents and affiliated organizations. The filing also alleged that the funds were used to support military and terrorist activities. The case adds another enforcement action tying crypto channels to sanctions-related finance and illicit cross-border fund flows, based on allegations laid out by U.S. prosecutors in the complaint.
The U.S. Department of Justice is seeking to forfeit $61 million that it alleges came from Iranian black-market oil sales and was laundered through cryptocurrency exchange Binance, according to Bloomberg.
In a civil forfeiture complaint, federal prosecutors in Manhattan alleged that Iran used a network of cryptocurrency participants to wash more than $1.5 billion in illicit oil proceeds.
Prosecutors said the entities involved used Binance trading accounts to transfer oil revenue to Iran, its agents and affiliated organizations, and alleged that the funds were used to support military and terrorist activities.
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