Binance Denies Involvement in Sanctioned Iran-Linked Crypto Transactions

Binance has responded to allegations made by the Wall Street Journal (WSJ) regarding $850 million in transactions linked to an Iranian financier. According to a statement from Binance's CEO, Zhao Richard Teng, the exchange never permitted transactions with sanctioned individuals and that any flagged activity occurred before sanctions were imposed.

The WSJ investigation focuses on Babak Zanjani and his network, including Zedcex, which allegedly handled $850 million in transactions over a two-year period. The report claims that internal alerts were triggered by the accounts, but they remained active despite investigators' cautions.