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$1.5 Billion in Iranian Oil Money Laundered Through Binance, Say Chinese Firms

Guavy AI Editorial Team
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Oil
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Chinese companies have been accused of laundering over $1.5 billion in Iranian oil money through Binance, the popular cryptocurrency exchange.

According to recent reports, two Chinese firms allegedly funneled this massive sum into their accounts on Binance, using the platform to conceal the origins of these funds.

Binance's CEO, Changpeng Zhao, pleaded guilty to a money-laundering charge in November 2023, which may indicate that the exchange was aware or should have been aware of these transactions.

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