Binance Denies $1B Iran Transaction Claims, Rejects Sanctions Allegations
The post Binance Denies $1B Iran Transaction Claims, Rejects Sanctions Allegations appeared first on Coinpedia Fintech News
Crypto exchange Binance has denied claims that it processed more than $1 billion in transactions linked to Iranian entities. The company also rejected allegations that it fired employees who raised compliance concerns.
The record must be clear.
No sanctions violations were found, no investigators were fired for raising concerns, and Binance continues to meet its regulatory commitments.
We’ve asked for corrections to recent reporting. pic.twitter.com/glA9bdGaw1
The accusations come from a February 13 investigative report. The report claimed Binance’s internal investigators flagged over $1 billion in transfers between March 2024 and August 2025. Most of the transactions reportedly involved Tether (USDT) on the Tron blockchain.
Report Alleges Internal Compliance ConcernsAccording to the report, several members of Binance’s compliance investigations team were dismissed after raising concerns internally. Some of these employees reportedly had law enforcement backgrounds.
The report also suggested that more compliance staff left the company in recent months. However, it did not clearly explain the reasons behind those departures.
Binance Responds: No Sanctions BreachesBinance leadership has strongly denied the allegations.
Co-CEO Richard Teng said the company found no sanctions violations. He also stated that Binance did not fire investigators for raising compliance concerns.
In its official response, Binance said it conducted a detailed internal review with support from external legal counsel. The company said the review found no evidence of sanctions breaches linked to the reported transactions.
Binance added that it follows whistleblower protection laws across multiple jurisdictions. The company rejected claims that employees were punished for reporting compliance issues.
Binance’s $4.3 Billion SettlementThe controversy comes after Binance’s 2023 $4.3 billion settlement with U.S. authorities over anti-money laundering and sanctions violations.
Since that settlement, Binance has operated under tighter regulatory oversight. The company says it has improved its sanctions screening systems, transaction monitoring tools, and internal controls.
Because of this history, any new sanctions-related claims attract strong attention from regulators and investors.
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