Binance denies firing investigators over reported $1.7 billion crypto flows to Iran
Binance refuted claims that it fired investigators who uncovered $1.7 billion in crypto flowing to Iran-linked entities.Summary
Binance has disputed reports from The New York Times and The Wall Street Journal alleging that the exchange fired or disciplined internal investigators after they uncovered approximately $1.7 billion in cryptocurrency moving through the platform to entities linked to Iran, including the Islamic Revolutionary Guards Corps.
The reports suggested that investigators identified over 1,500 Iran-accessed accounts and that staff were disciplined after presenting findings to senior leadership, including CEO Richard Teng. One implicated Hong Kong firm, Blessed Trust, denied knowingly facilitating sanctions-breaching transactions.
In response, a Binance spokesperson stated they strongly dispute the assertions, claiming their internal review found no evidence of sanctions violations and that detecting and reporting suspicious activity proves their controls are working. Binance founder Changpeng Zhao also claimed the media reports repeated "negative narratives" from fired employees, asserting Binance has the "best compliance program in the industry."
(Source：The Block)