US seeks $61M in USDT allegedly tied to sanctioned Iranian oil sales
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
The US Department of Justice is seeking to seize over $61 million in Tether’s USDT stablecoin, alleging the funds originated from black-market sales of sanctioned Iranian oil. The DOJ claims that entities Blessed Trust and Hexa Whale used Binance accounts to move proceeds to buyers in China and to IRGC-linked organizations. Tether reportedly froze 61.19 million USDT on the Tron network as part of the investigation.
Why it matters
This enforcement action is part of expanded US financial sanctions against Iran’s digital asset sector, signaling increased scrutiny of cryptocurrency’s use in sanction evasion. It comes amid heightened US-Israeli tensions with Iran that disrupt Middle Eastern energy infrastructure and impact global oil markets.
Key context
The DOJ complaint alleges that more than $1.5 billion moved through a network of addresses linked to Iranian oil sales, including transfers to Iranian exchanges and IRGC-related money transfer services. The US Treasury recently expanded sanctions to target Iran’s digital asset sector, allowing authorities to pursue foreign individuals and companies involved.
Key numbers and entities
The DOJ seeks forfeiture of $61.19 million in USDT. Blessed Trust, Hexa Whale, Binance, the Islamic Revolutionary Guard Corps (IRGC), and Tether are key entities mentioned. Oil prices reported were Brent crude at about $107.59 per barrel and US West Texas Intermediate at roughly $103.35.
What remains unclear
Details on the specific evidence supporting the DOJ’s allegations and the identities of the individuals behind Blessed Trust and Hexa Whale are not provided. Tether had not responded to inquiries by the time of publication. The final judicial determination on asset forfeiture is pending court judgment.