The U.S. Attorney's Office for the Southern District of New York has filed a civil forfeiture suit targeting roughly $61 million in cryptocurrency. According to U.S. authorities, the funds are allegedly proceeds from illegal sales of Iranian oil and petroleum products under sanctions.

What Happened

The lawsuit aims to seize crypto assets that officials claim are tied to schemes for selling Iranian oil in violation of U.S. sanctions. The amount in question is about $61 million, all held in digital currencies.

DOJ’s Argument

The Department of Justice says the suspected proceeds were intended for the Iranian government and military-linked entities, including the Islamic Revolutionary Guard Corps (IRGC). Case documents describe the funds as revenue from sanctions-busting activities in Iran’s oil sector.