Federal Prosecutors in New York File Suit Seeking Forfeiture of $61 Million in Cryptocurrency Linked to Iranian Oil Sales and Chinese Companies
On September 14, the U.S. Attorney's Office for the Southern District of New York filed a civil forfeiture action seeking to seize approximately $61 million in cryptocurrency, alleging that the Chinese companies Blessed Trust and Hexawell used Binance trading accounts to launder money from Iran's black-market crude oil sales, with the related network having laundered more than $1.5 billion in illicit oil funds.