US Moves to Seize $61 Million in Iranian Crypto Linked to Black-Market Oil Sales

The US Department of Justice has filed a civil lawsuit seeking to seize $61 million in cryptocurrency allegedly linked to Iran’s black-market oil sales, the country’s attorney’s office said.

The Justice Department alleges that Iran has illegally sold crude oil despite sanctions and used the proceeds to fund military activities and terrorism in the Middle East and elsewhere.

US officials said Iran used a cryptocurrency network operating in several countries, including China, to launder proceeds from illegal oil sales. The network is alleged to have moved more than $1.5 billion in illicit oil proceeds.

FBI Assistant Director in Charge James Barnacle Jr. said the case demonstrates the FBI’s ability to trace illicit funds and disrupt efforts to evade sanctions and finance terrorism.

The latest move comes amid the ongoing conflict between the two countries and follows a series of legal actions by US prosecutors targeting Iran in recent months.