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$61M Iran Forfeiture Case: Binance Denies Wrongdoing, Targets Specific Users

Guavy AI Editorial Team
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Binance has denied any wrongdoing in a $61 million forfeiture case related to Iran sanctions violations on its platform.

The Department of Justice (DOJ) is pushing to forfeit the funds, which are tied to alleged illicit activities through Binance's exchange operations.

According to Binance CEO Richard Teng, no wrongdoing has been alleged against the exchange itself, but rather specific users who have engaged in sanctioned transactions.

Binance maintains a zero-tolerance policy for illicit activity and has blocked all sanctioned transactions on its platform.

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