US Seeks $61 Million in Iranian Oil Proceeds, Says 2 Chinese Firms Used Binance
Updated
Updated · The New York Times · Sep 15
US Seeks $61 Million in Iranian Oil Proceeds, Says 2 Chinese Firms Used Binance
3 articles · Updated · The New York Times · Sep 15
Summary
$61 million held in Tether-linked accounts is the target of a civil forfeiture case the Justice Department filed in Manhattan, alleging two Chinese companies laundered proceeds from Iranian oil sales.
Court papers say the funds were meant to support Iran’s military, including the Islamic Revolutionary Guards Corps, and that Iran-linked crypto wallets received more than $1.5 billion in illicit proceeds overall.
Binance was not charged, and prosecutors did not specify how much of the money moved through the exchange, though the complaint says the companies used Binance accounts in the scheme.
The filing revives scrutiny of Binance after reports that compliance staff flagged Iran-related transactions internally last year; the exchange, which paid $4.3 billion in 2023 to settle U.S. financial-law violations, said it has zero tolerance for sanctions breaches.