U.S. seeks to seize $61 million in USDT linked to Iranian oil
The U.S. Department of Justice is seeking to confiscate more than $61 million in USDT stablecoins. Authorities allege that the funds came from Iranian oil sales conducted in violation of sanctions and were intended to finance Iran’s government and military, including the Islamic Revolutionary Guard Corps (IRGC).
According to the Justice Department, Hong Kong-registered companies Blessed Trust and Hexa Whale used Binance accounts to move proceeds from oil sales to Chinese buyers. A network of related crypto addresses allegedly received and distributed more than $1.5 billion.
U.S. authorities claim that part of the funds was transferred to money-transfer businesses linked to the IRGC, cryptocurrency wallets and an Iranian exchange.
Binance denies wrongdoing
A Binance spokesperson said the exchange does not permit transactions involving sanctioned individuals and cooperates with law enforcement agencies. When necessary, the company investigates suspicious activity and restricts or freezes accounts.
Binance also stressed that the case was not filed against the exchange and that the Justice Department has not accused the company of any wrongdoing.
The case comes as Washington increases financial pressure on Tehran amid the ongoing U.S.-Israeli conflict with Iran, which has disrupted oil supplies across the Middle East.
Tether froze $61 million
According to the complaint, Tether froze about 61.19 million USDT across 10 addresses on the Tron network in 2025.
A seizure warrant allows the FBI to take control of the assets. Under the procedure, Tether would destroy the frozen tokens and issue an equal amount of new USDT, which would then be transferred to a hardware wallet controlled by the FBI.
For now, however, the government is only seeking forfeiture of the funds. The Justice Department stressed that the allegations in the civil complaint have not yet been proven. The U.S. would become the permanent owner of the assets only if a court rules in the government’s favor.
Crypto reserve built from seized assets
Confiscated cryptocurrencies can now become part of U.S. government reserves. In March 2025, President Donald Trump ordered the creation of a Strategic Bitcoin Reserve and a separate Digital Asset Stockpile. Bitcoin permanently forfeited to the government through criminal or civil proceedings is to be transferred to the reserve and not sold. Other seized crypto assets may be added to the government’s digital asset stockpile.
As a result, the seizure of the 61.19 million USDT linked to Iran could potentially increase the U.S. government’s crypto holdings if the court approves the Justice Department’s request and the assets become government property. Authorities distinguish between Bitcoin and other tokens: BTC is treated as a strategic reserve asset, while additions to the stockpile of other cryptocurrencies are primarily expected to come from confiscations unless further action is taken.
Earlier, Iran allowed the use of cryptocurrencies in foreign trade.
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