US Authorities Seek Seizure of $61 Million in Virtual Assets Linked to Tether and Binance

US prosecutors have sought the seizure of nearly $61 million in virtual assets linked to proceeds from Iranian oil sales, according to court filings. The case involves 10 Tron addresses holding Tether's USDT tokens and Binance exchange accounts. The US Department of Justice's Southern District of New York stated that Chinese company Blessed Trust and Hexa Whale allegedly used Binance accounts to launder funds from Iranian oil sales.

The prosecutors claim the related 'Entity A' addresses transferred over $1.5 billion in oil sale proceeds to entities linked to Iran's Revolutionary Guard Corps (IRGC) and Iranian cryptocurrency exchanges. The civil forfeiture action is pending court approval, meaning the allegations have not been confirmed as of yet. US authorities argue the funds were intended to benefit the Iranian government and military-related organizations.