- Binance disputed the WSJ’s claims and mentioned the reported trades befell earlier than the sanctions had been imposed.
- An inner report mentioned $850 million in transfers to Binance had been linked to Babak Zanjani’s account.
- Binance mentioned it investigated this exercise early and continues to work with world regulators.
Binance CEO Richard Teng has pushed again in opposition to a Wall Road Journal report alleging that Iranian-linked entities continued to maneuver funds via the cryptocurrency trade regardless of scrutiny of sanctions in opposition to the corporate.
The motion comes after inner investigators reportedly recognized suspicious exercise associated to sanctions evasion and cash laundering, following allegations that accounts related to Iranian businessman Babak Zanjani remained lively on the platform for a number of months.
In a press release on X, Teng mentioned the paper’s reporting contained “elementary inaccuracies” concerning Binance’s compliance practices and therapy of sanctioned entities. He mentioned the transactions talked about within the report befell earlier than these concerned had been sanctioned, including that Binance had already begun investigating the matter earlier than the paper contacted the corporate.
Teng additionally mentioned that Binance doesn’t permit transactions involving sanctioned people and maintains a rising compliance framework centered on stopping illicit monetary actions. The trade continues to cooperate with U.S. and worldwide legislation enforcement companies concerning monetary crimes investigations, the assertion mentioned.
Report particulars alleged Iran-related transactions
The dispute facilities on claims that Iranian businessman Babak Zanjani, who describes himself as an “anti-sanctions operator,” made roughly $850 million in trades on Binance via December 2025. An extra $1.7 billion associated to the identical community might have moved via the trade, in line with inner compliance stories reviewed by The Wall Road Journal.
The report states that Binance internally flagged the exercise, however one account allegedly linked to Zanjani reportedly remained lively for 15 months and was nonetheless open as of January 2026. Consultants cited within the report reportedly estimate that almost half of the funds recognized might have been linked to financing actions associated to the Iranian army.
The Wall Road Journal additionally reported that Binance investigators have concluded that these accounts type a part of a cash laundering community with ties to the Iranian regime.
Binance disputes findings amid elevated scrutiny
Binance denied that almost all of the reported trades befell on its platform. An organization spokesperson instructed the newspaper that the trade took motion at any time when sanctioned accounts had been recognized, however declined to debate the particular transactions talked about within the report.
The allegations come months after Binance filed a defamation lawsuit in opposition to the Wall Road Journal over earlier reporting associated to alleged Iran-related cash laundering actions.
Associated: Binance sues WSJ for defamation over ‘false’ report on Iran sanctions
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