The U.S. Department of Justice (DOJ) has filed a civil forfeiture complaint against $61 million in crypto proceeds from the sale of Iranian oil, allegedly laundered through the crypto exchange Binance. This follows the U.S. Treasury’s launch of ‘Operation Economic Outcast’ as part of the war against Iran.
DOJ Seeks Forfeiture Of Iranian Oil Proceeds Laundered Through Binance
In a press release, the DOJ announced the filing of the civil forfeiture complaint against nearly $61 million in crypto as the proceeds of black-market sales of sanctioned Iranian oil. The DOJ noted that these proceeds are intended to finance the Iranian government and its military components, including Iran’s Islamic Revolutionary Guard Corps (IRGC).
Notably, in the complaint, the Department of Justice alleged that two Chinese companies used trading accounts on the top crypto exchange Binance to launder the proceeds of the black-market sales. These companies funneled these funds to the Iranian government and its proxies.
The DOJ also alleged that the $61 million was just part of a larger sum of more than $1.5 billion in illicit oil money. “The Government of Iran used a network of cryptocurrency actors in China and elsewhere to launder more than $1.5 billion in illicit oil money intended to benefit the Iranian military and the terror-designated IRGC,” the release read.
This comes months after the WSJ reported that the DOJ was investigating Binance over allegations that Iran used the exchange to illegally move funds and evade sanctions. The exchange denied the allegations and sued WSJ’s parent company for defamation.
Meanwhile, the forfeiture complaint comes just weeks after the U.S. Treasury launched ‘Operation Economic Outcast’ to isolate Iran economically. The Treasury stated at the time that it would target Iran’s crypto funds as part of the operation.
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Source: https://coingape.com/doj-seeks-forfeiture-of-61m-in-iranian-oil-proceeds-laundered-through-binance/
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