Binance denies report on Iran-linked sanctions breaches and investigator firings
Binance says an internal review with external counsel found no sanctions violations and that it continues to meet its regulatory obligations under monitorship oversight.
Crypto exchange Binance has pushed back on a recent report by Fortune, rejecting allegations that it enabled sanctions-violating transactions tied to Iran and fired compliance investigators who raised concerns.
Fortune reported Friday that internal investigators at Binance discovered more than $1 billion in transfers linked to Iranian entities moving through the platform between March 2024 and August 2025. The transactions were said to involve Tether’s USDt (USDT) stablecoin on the Tron blockchain.
Citing unnamed sources, the report claimed that at least five investigators, several with law-enforcement backgrounds, were later fired after documenting the activity. The outlet also reported that additional senior compliance staff departed the company in recent months.
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