US Seeks Forfeiture of Over $61 Million in Crypto Linked to Iranian Oil Money

September 15, 2026

Washington: The US Department of Justice has filed a civil forfeiture complaint seeking to recover more than $61 million in cryptocurrency that prosecutors allege was generated through the black-market sale of sanctioned Iranian crude oil and petroleum products.

According to the US authorities, the cryptocurrency proceeds were allegedly intended to benefit the Iranian government and military-linked entities, including the Islamic Revolutionary Guard Corps (IRGC).

Chinese Firms Allegedly Used Crypto to Move Funds

US prosecutors allege that two China-based companies, Blessed Trust and Hexa Whale, used trading accounts on cryptocurrency exchange Binance to launder proceeds from Iranian oil sales and transfer the money to Iran, its agents and proxies.

Over $1.5 Billion in Oil Proceeds Allegedly Laundered

The complaint further alleges that a network of cryptocurrency addresses handled more than $1.5 billion in proceeds from illicit Iranian oil sales. US authorities said the network used multiple transactions and crypto addresses to conceal the source and ownership of the funds.

The Justice Department said the civil forfeiture complaint is an allegation, and the claims have not been proven until a court issues a judgment in favour of the United States.