Binance, one of the world's largest cryptocurrency exchanges, has denied allegations of violating Iranian sanctions following reports by the Wall Street Journal. The exchange claims to have taken swift action after law enforcement requests regarding two Hong Kong-based partners, Hexa Whale and Blessed Trust, which allegedly facilitated sanctions-evading transactions.
According to Binance, its investigators initiated a comprehensive review of the implicated wallets and identified other users with exposure. The firm offboarded both accounts in August 2025 and January 2026, respectively.
Binance also emphasized its commitment to compliance, highlighting that it has invested hundreds of millions of dollars in infrastructure and boasts over 1,500 employees worldwide. The exchange stated that its rigorous compliance program was effective in addressing the alleged issues.