Binance Denies Staff Termination Tied to Alleged $1.7 Billion Crypto Flows

Binance, the world's largest cryptocurrency exchange, has pushed back against allegations that it terminated or suspended compliance staff over alleged $1.7 billion crypto flows to Iran-linked entities.

According to recent media reports, a team of internal investigators identified substantial flows of funds through the platform between March 2024 and August 2025, including over $1 billion in Tether (USDT) stablecoin transactions routed via the Tron blockchain to entities with ties to Iran.

The exchange has denied that the personnel changes were related to the alleged sanctions violations, stating instead that the employees left after violating protocols around customer data protection and confidentiality. Binance emphasized its commitment to proper compliance, noting heavy investments in advanced screening tools, real-time blockchain analytics, and collaboration with global law enforcement.