BNB
US Prosecutors Seek $61 Million in Sanctions Forfeiture Involving Binance Accounts
US authorities have launched a forfeiture action to seize $61 million in crypto tied to Iranian oil sales, while Binance leadership stated the exchange is not accused of wrongdoing.
Federal prosecutors in Manhattan have filed a civil forfeiture complaint seeking approximately $61 million in cryptocurrency allegedly derived from black-market sales of sanctioned Iranian crude oil. According to the Department of Justice filing announced by Deputy US Attorney Sean Buckley, two Chinese firms, Blessed Trust and Hexa Whale, utilized trading accounts at Binance to launder proceeds. The complaint alleges that a cluster of wallets identified as Entity A processed over $1.5 billion, directing portions of the capital to Iran’s Islamic Revolutionary Guard Corps.
Binance is not listed as a defendant in the civil proceeding, which remains subject to judicial review in the US District Court for the Southern District of New York. Binance co-CEO Richard Teng stated that the case does not allege wrongdoing by the platform, emphasizing that the exchange maintains strict compliance rules, prohibits sanctioned transactions, and cooperated with law enforcement after identifying illicit risks months earlier.
Teng reiterated that the exchange proactively freezes suspicious accounts and assists authorities. The legal action follows Binance's 2023 settlement with US authorities, in which the company pleaded guilty to sanctions violations and paid $4.3 billion in penalties.
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