The US Department of Justice (DOJ) is seeking forfeiture of more than $61 million in Tether’s USDT stablecoin, alleging the funds came from black-market sales of sanctioned Iranian oil and were intended to finance Iran’s government and military, including the Islamic Revolutionary Guard Corps (IRGC).Â
On Monday, the DOJ alleged that Blessed Trust and Hexa Whale, both incorporated in Hong Kong, used Binance accounts to move proceeds from oil sold to buyers in China. A network of related addresses allegedly received and distributed more than $1.5 billion, including transfers to IRGC-linked money-transfer businesses, cryptocurrency addresses and an Iranian exchange.
A Binance spokesperson told Cointelegraph that Binance did not permit transactions with sanctioned individuals and would continue cooperating with law enforcement, including by investigating, restricting or freezing accounts where appropriate. The spokesperson said the…
