The U.S. Department of Justice (DOJ) filed an action on Monday (14) to confiscate about US$ 61.2 million in USDT that, according to federal prosecutors, came from the clandestine sale of Iranian oil under sanctions and were allegedly intended for the government of Iran and military structures, including the Islamic Revolutionary Guard Corps (IRGC).
The assets are distributed across ten cryptocurrency addresses and have already been frozen by Tether. A warrant issued the same day authorizes the FBI to transfer the tokens to a wallet under U.S. government control while the forfeiture process proceeds.
The action involves USDT issued on the TRON network. According to the court document, Tether may burn the tokens held in the identified addresses and issue equivalent units for transfer to the U.S. government.
Network allegedly moved more than US$ 1.5 billion
The investigation states that a network of at least seven related addresses received and distributed more than US$ 1.5 billion in funds from the irregular sale of Iranian oil. Part of the money was allegedly sent to financial services related to the IRGC, cryptocurrency addresses linked to the group and the Iranian exchange Nobitex.
Two companies incorporated in Hong Kong, Blessed Trust and Hexa Whale, allegedly played a central role in moving the funds. According to prosecutors, the companies used trading accounts on Binance to convert and transfer amounts received from oil buyers in China. The filing does not claim that Binance participated in the scheme, but that accounts held on the platform were used by those involved.
The DOJ also maintains that the companies used the U.S. financial system. Between March and April 2024, a company identified only as “Company-1” allegedly sent about US$ 37.15 million to Hexa Whale. Between November 2024 and March 2025, another US$ 443.49 million were allegedly transferred to Blessed Trust through transactions processed via correspondent accounts in the United States.
The ten addresses targeted by the action were frozen between June and July 2025 and together hold, 61,192,367.59 USDT. For the funds to be definitively incorporated by the United States, the government still needs to obtain a favorable ruling in the civil case. The DOJ itself emphasizes that the allegations presented in the action have not yet been proven in court.
