Overview
- Bloomberg reported on Sept. 22 that the Manhattan U.S. Attorney’s Office is leading an inquiry with the DOJ Criminal Division into whether Binance knowingly allowed trading that violated U.S. sanctions on Iran.
- A separate verified civil forfeiture filed in the Southern District of New York on Sept. 14 seeks about $61 million in USDT held in 10 TRON addresses and says the funds came from black‑market Iranian oil sales handled by two Hong Kong firms, Blessed Trust and Hexa Whale.
- The forfeiture names the two companies and targets assets rather than charging Binance, and prosecutors can use civil forfeiture to seize assets without bringing criminal charges.
- Investigators will focus on whether Binance’s court‑ordered monitorship and new screening systems after its 2023 guilty plea generated warnings that were acted on, a question sharpened by earlier reporting that internal reviews flagged larger Iran‑linked flows than the $61 million now sought by prosecutors.
- If the probe finds gaps in controls, the case could prompt further asset seizures, regulatory actions and congressional oversight, and it will shape how exchanges, stablecoin issuers and law enforcement use blockchain tracing to block sanctioned flows.