The cryptocurrency exchange Binance announced the detection and blocking of suspicious accounts within a large network of financial operations. Thanks to its internal compliance system, the company identified related accounts, blocked them, and forwarded the investigation results to law enforcement agencies.
This is reported by Business • Media
Reduction of Exposure to Sanctions and Strengthening of Compliance
Binance noted that from January 2024 to July 2025, the level of exposure to both direct and indirect sanction flows decreased by 96.8%. During this period, the company received over 71,000 requests from law enforcement and assisted in the confiscation of more than $131 million related to illegal activities. Additionally, Binance invests over $200 million annually in compliance development, with nearly 20% of employees involved in relevant departments.
The company also organized over 160 training sessions for law enforcement focused on countering threats in the crypto asset space.
“The funds related to the scheme were neither the source nor the endpoint of asset movement on the exchange. The platform was merely one element of transit within a broader network of transactions.”
Refutation of Allegations Regarding Iranian Transactions
Binance separately commented on allegations from certain media regarding transactions totaling $1.7 billion linked to Iran. The company emphasized that the information in the media was distorted, and the internal investigation concerned a complex network of transactions across several jurisdictions, including Asia and the Middle East. The funds passed through numerous intermediary wallets, sourced from regulated stablecoin issuers and digital payment providers in Singapore.
After detailed analysis, it was revealed that approximately $126 million of the total transaction volume ended up in wallets associated with Iranian addresses. Of this amount, about $24 million may have been related to the Islamic Revolutionary Guard Corps (IRGC).
Binance stressed that no employees were terminated for reporting compliance violations, and the company actively collaborates with law enforcement during investigations of suspicious activities.
Previously, a court dismissed all charges against Binance for facilitating terrorism.