According to Unfolded, the U.S. Department of Justice (DOJ) has filed a civil forfeiture complaint for $61 million (approximately 80 billion KRW) in Iranian black market oil sales proceeds allegedly laundered through the Binance platform. According to U.S. prosecutors, cryptocurrency accounts linked to two Chinese entities were used to transfer over $1.5 billion in illicit oil proceeds to the Iranian military and terrorist proxy organizations. Prosecutors stated that they uncovered a sanctions evasion network through precise fund tracking using blockchain. This action demonstrates that Binance, which previously paid substantial fines for sanctions violations, remains exposed to sanctions compliance risks.
