Binance Denies Firing Investigators into Sanctioned Transactions

Crypto exchange Binance has come under fire for its handling of investigations into suspicious transactions linked to sanctioned entities. Two major US newspapers, The Wall Street Journal and The New York Times, reported that the exchange had fired employees who were investigating $1 billion in funds moving through the exchange to Iran-backed terror groups.

The allegations claim that Binance's internal review found no evidence of sanctions violations related to these transactions, despite a 2023 settlement with US authorities admitting to violating federal money laundering statutes. However, documents and statements from individuals familiar with Binance operations suggest that similar conduct may have persisted at the exchange.