US DOJ seeks $61 million in crypto from Iranian oil sales laundered on Binance

September 15, 2026 at 09:01 AM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

The U.S. Department of Justice filed a civil forfeiture complaint against approximately $61 million in crypto proceeds from black-market sales of sanctioned Iranian crude oil. Prosecutors allege the sales were intended to finance the Iranian government and the Islamic Revolutionary Guard Corps. Two Chinese companies, Blessed Trust and Hexa Whale, used Binance accounts to launder the proceeds.

Key Facts

The U.S. Department of Justice filed a civil forfeiture complaint against approximately $61 million in crypto proceeds from black-market sales of sanctioned Iranian crude oil.
Two Chinese companies, Blessed Trust and Hexa Whale, used trading accounts on Binance to launder the proceeds and funnel funds to the Iranian government and its proxies.
The DOJ identified interrelated unhosted crypto addresses, collectively called "Entity A," that received and distributed more than $1.5 billion of proceeds from illicit Iranian oil sales.
Deputy U.S. Attorney Sean S. Buckley said the action aims to deprive Iran and its terrorist proxies of illegal money used to threaten U.S. citizens.
In June, the U.S. sanctioned Iran's largest crypto exchange Nobitex for its role in sanctions evasion and transactions linked to the IRGC.

Forfeiture Complaint

The U.S. Department of Justice filed a civil forfeiture complaint against approximately $61 million in crypto proceeds from black-market sales of sanctioned Iranian crude oil and petroleum products. Prosecutors alleged that the sales were intended to finance the Iranian government and its military components, including the Islamic Revolutionary Guard Corps (IRGC), a U.S.-designated terrorist organization. Deputy U.S. Attorney Sean S. Buckley said the action demonstrates the determination to deprive Iran and its terrorist proxies of illegal money used to threaten U.S. citizens.

Laundering Scheme

Two Chinese companies, Blessed Trust and Hexa Whale, used trading accounts on Binance to launder proceeds of the black-market oil sales and funnel funds to the Iranian government and its proxies. Blessed Trust represented itself as a digital asset custodial services firm while providing fiat-to-crypto conversion services for Iran-linked transactions, and Hexa Whale allegedly provided similar services while portraying itself as a commodities brokerage. The DOJ identified interrelated unhosted crypto addresses, collectively referred to as "Entity A," that received and distributed more than $1.5 billion of proceeds from the illicit sale of Iranian oil. These addresses funneled funds to IRGC-related businesses and crypto addresses, and an Iranian crypto exchange, with Blessed Trust and Hexa Whale largely facilitating the transfers.

Sanctions Context

The U.S. has imposed a series of sanctions targeting Iran's oil revenue and shipping. Last month, Treasury Secretary Scott Bessent announced the Trump administration's plan to impose secondary sanctions targeting Iran's sources of revenue, including digital assets, technology, aviation, gold, and shipping. In June, the U.S. sanctioned Iran's largest crypto exchange Nobitex, saying it was a key player in sanctions evasion, terrorist financing, and transactions linked to the IRGC.