US DOJ Seizes $61 Million in Alleged Iran Oil Money Laundering Linked to Binance

According to Unfolded, the US Department of Justice (DOJ) has initiated a civil forfeiture lawsuit for $61 million (approximately 80 billion won) in funds laundered via the Binance platform, linked to illicit oil sales from Iran's shadow market. Prosecutors stated that two Chinese entities connected to these cryptocurrency accounts were used to transfer over $1.5 billion in illegal oil revenues to Iran's military and terrorist proxy organizations. The prosecutors highlighted that blockchain analysis enabled precise tracking of the funds, uncovering a sanctions evasion network. This action underscores that Binance, which previously paid significant fines for sanctions violations, remains exposed to compliance risks.