Binance Denies Allegations Over Iran-Linked Cryptocurrency Transactions

Binance, a major cryptocurrency exchange, has faced intense scrutiny over its alleged involvement with Iranian networks and potential sanctions violations.

A recent investigation by the company's internal team identified $1.7 billion in transactions linked to Iranian entities, including those tied to the Islamic Revolutionary Guards Corps, a US-designated terrorist organization.

The findings were reportedly presented to senior leadership, but Binance has denied allegations that it retaliated against members of its investigative team after they flagged the suspicious activity.

Instead, the company claims it detected and reported the suspicious transactions to authorities and removed the affected accounts. However, some former employees have come forward with concerns about the exchange's handling of sanctions oversight and compliance.