US EditionSen. Blumenthal Probes Binance over Alleged $1.7 Billion in Crypto Iran-Linked Transactions
Binance denies firing compliance investigators and says internal review found no sanctions violations amid allegations of $1.7 billion transferred to Iran-backed groups.
- On Monday , the WSJ reported Binance dismissed investigators after identifying $1 billion linked to Iran-backed groups, citing internal documents and sources.
- The Binance spokeswoman told the Journal that one or more investigators resigned and denied they were fired or suspended for raising compliance concerns.
- In public posts and letters, Binance said it found no evidence of sanctions violations after an internal review, accused The Wall Street Journal of publishing 'false information', and co-CEO Richard Teng criticized WSJ reporting with letters sent to WSJ and Fortune.
- Regulators could revisit prior findings after Binance said it will send a full report to the U.S. Justice Department on Feb. 25, while citing its 2023 settlement involving violations of federal money-laundering statutes.
- Reporting also identified $1.7 billion moved in 2024–2025 from Binance‑registered Chinese clients to Iran‑linked groups including Yemen's Houthi militants, and Binance's letters to Fortune last week intensified clashes with major U.S. newspapers.
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10 Articles
Crypto’s biggest exchange fights back against allegations of moving billions of Iran-linked money
Binance hires outside counsel to demand a retraction from the WSJ over Iran sanctions reporting, as the NYT publishes similar claims about over $1 billion transfers
The BNB went below the key level of $600 while the liquidity data and large regulatory securities weighed on the market sentiment. The stablecoins reserves on Binance fell to their lowest levels of several months, while Bitcoin's balances on trade increased. At the same time, Binance rejected a report alleging $1.7 billion in cryptic flows linked to sanctioned Iranian entities. The evolution of prices now depends on the ability of buyers to reco…
Lawmakers Demand Records From Binance in Iran and Russia Probe
Key Takeaways Senator Richard Blumenthal launched a formal Senate investigation into Binance over alleged sanctions violations. Lawmakers are examining claims the exchange processed $1.7 billion tied to Iranian entities and Russia’s shadow oil fleet. Binance denies wrongdoing and says it has significantly strengthened compliance since its 2023 settlement. The probe adds new political and regulatory pressure on the crypto industry ahead of poten…
Reports of billions of transfers to Iranian actors and Russia's shadow fleet continue to put Binance under pressure. Were warnings ignored? Source: BTC-ECHO BTC-ECHO
Binance Denies Firing Own Team Over Iran Sanctions Report
It was reported that Binance’s own team found over 1,500 accounts connected to Iran. Some of those wallets were allegedly linked to Iran’s Revolutionary Guard. Binance says the actions weren’t about compliance, but the mishandling of internal data. Binance is pushing back hard against reports claiming it fired staff who found approximately $1.7 billion in crypto moving to Iranian-linked accounts. The exchange says the stories are wrong and that …
Did Crypto Exchange Binance Fund Iranian Entities? Here Is Everything We Know
The latest controversy around Binance began quietly inside the company. According to investigations first detailed by The New York Times and The Wall Street Journal, a group of internal compliance investigators at Binance discovered that entities linked to Iran had gained access to more than 1,500 accounts on the exchange. As they dug deeper, they reportedly found that roughly $1.7 billion in crypto transactions had flowed from two accounts to …
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