Binance Denies Firing Staff Over Alleged Iran-Linked Crypto Transactions

Binance has faced allegations that it fired staff who discovered approximately $1.7 billion in crypto moving through Iranian-linked accounts. However, the exchange claims these reports are incorrect and states that its own review found no evidence of sanctions being broken. According to investigative reports, Binance's compliance team allegedly identified over 1,500 accounts connected to Iran active on the platform. The reports also claimed that about $1.7 billion in crypto flowed from two Binance accounts to Iranian-linked wallets between 2024 and 2025. Some of those wallets were allegedly tied to Iran's Revolutionary Guard and groups such as the Houthis. After the allegations surfaced, some investigators were reportedly suspended or fired, although Binance says the actions weren't related to compliance but rather mishandling internal data.

The exchange stated it handled things appropriately by spotting suspicious activity, reporting it to authorities, and shutting down problematic accounts. It also pointed out that its exposure to Iranian entities has dropped sharply, falling over 97% between January 2024 and January 2026, from $4.19 million down to roughly $110,000.

Binance co-founder Changpeng 'CZ' Zhao chimed in on X, saying the media was running with 'negative narratives' from fired staff. He also insisted Binance has the 'best compliance program in the industry.'