Binance Faces Probe Over Potential Iran Sanctions Breaches

U.S. federal prosecutors are investigating whether Binance, the world's largest cryptocurrency exchange, knowingly allowed transactions that breached U.S. sanctions against Iran.

The probe is being led by the Manhattan U.S. Attorney's Office with assistance from the DOJ's Criminal Division and follows a civil forfeiture action filed on September 14 seeking to seize $61 million in USDT connected to Iranian petroleum sales.

Prosecutors claim that two Chinese entities, Blessed Trust and Hexa Whale, used Binance platforms to process funds from Iranian oil transactions, allegedly exploiting American financial infrastructure to transfer or collect tens of millions in proceeds.

Binance has maintained it enforces strict anti-sanctions policies and provides full cooperation with authorities. The exchange highlights its substantial compliance infrastructure, employing over 1,500 compliance specialists, representing roughly 25% of its total global staff.