Binance is the subject of high-profile investigations. According to a report published by the Wall Street Journal, the exchange was allegedly used as the hub of a secret payment network organized by Iranian magnate Babak Zanjani to finance Iran’s military forces.
Through a single account on the platform, Zanjani allegedly channeled around $850 million in transactions over two years, approximately half of which reportedly funded the Tehran regime. Binance’s own internal investigators allegedly concluded that those accounts were part of a money laundering network designed to sustain the Iranian government.
The WSJ also noted that Iran’s central bank allegedly transferred $107 million in cryptocurrencies to Binance accounts over the past year. Foreign investigators, for their part, traced nearly $260 million in transactions during 2024 and 2025 between accounts linked to Binance and wallets associated with sanctioned Iranian entities and alleged terrorism financiers.
These figures add to the approximately $1.7 billion that the exchange’s investigators had previously identified flowing through that same network, according to an earlier report by the same outlet published in February. The exchange denied those accusations, calling them “demonstrably false” and “defamatory“.
Source: https://www.wsj.com/world/middle-east/iran-binance-crypto-military-e755b218
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