Binance Faces Second Probe Over Alleged Iran-Linked Trades
US authorities are once again investigating Binance, this time over alleged Iran-linked trades worth billions. The Manhattan US attorney's office and Justice Department's Washington arm are leading the probe.
Binance claims it does not tolerate sanctions violations and cooperates fully with law enforcement. However, earlier reports suggested that the exchange allowed two Chinese companies to trade billions of dollars' worth of crypto as part of a plan to help Iran sell its oil despite US sanctions.
In March, the DoJ reportedly launched an investigation into Binance over these Iran-linked funds. In response, Binance sued The Wall Street Journal for defamation.
Recently, the US government seized $61 million in frozen USDT allegedly linked to Iran's oil trading operation, which is said to have generated $1.5 billion in crypto proceeds for Iran's military and nuclear program.