Binance has rejected allegations that it dismissed internal investigators after they uncovered approximately $1.7 billion in crypto transactions linked to Iranian entities. The claims stem from recent media reports asserting that internal compliance staff identified more than 1,500 accounts accessed from Iran and traced significant crypto flows to wallets allegedly connected to the Islamic Revolutionary Guard Corps.
According to the reports, findings were presented to senior leadership, including CEO Richard Teng and Chief Compliance Officer Noah Perlman. Additional scrutiny reportedly focused on Hong Kong-based firms Blessed Trust and Hexa Whale Trading, which were said to have facilitated substantial USDT transfers.
Exchange Cites Stronger Compliance Controls
In a formal response, Binance stated that no investigator was terminated for raising sanctions related concerns. The company said its internal review found no violations of applicable sanctions laws and emphasized that suspicious activity had been detected and reported through established compliance channels.
Binance also disclosed that its exposure to the four largest Iranian crypto exchanges declined by more than 97% between January 2024 and January 2026. The exchange continues to operate under compliance reforms mandated by its 2023 U.S. settlement, which included a $4.3 billion penalty and leadership changes involving founder Changpeng Zhao.
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