The Justice Department wants to seize about $61 million in crypto it says came from unauthorized Iranian oil sales. Prosecutors say more than $1.5 billion in oil proceeds moved first through self-custody wallets, then through Binance accounts, before funds were routed onward to Iran and related networks, including the Islamic Revolutionary Guard Corps.
The case names two China-based companies, Blessed Trust and Hexa Whale, as key parts of that flow through Binance trading accounts. Binance is not accused of a new violation in this case, and there is no new fine tied to the exchange.
At the center of the case is tracing: the DOJ says it can follow specific crypto tied to those oil transactions, and now wants to take control of roughly $61 million linked to that alleged scheme.