Justice Department seeks $61 million in what it says is ill-gotten Iranian cryptocurrency

The U.S. Department of Justice announced on Monday, August 7, 2023, that it filed a civil forfeiture claim for $61 million in cryptocurrency. The department alleges that the Iranian military, including the Islamic Revolutionary Guard Corps (IRGC), acquired these funds through black market oil sales. The complaint states that two Chinese companies laundered illicit oil-sales revenue through cryptocurrency exchange trading accounts in the United Arab Emirates, disguising themselves as legitimate financial services companies. Sean Buckley, deputy U.S. attorney for the Southern District of New York, stated, “Today’s action demonstrates our determination to deprive the government of Iran and its terrorist proxies of the illegal money they rely on.” The Justice Department emphasized its commitment to disrupting Iran's funding for its military, terrorism, and other malign efforts.