Binance Faces US DOJ Probe Over Alleged Iran Sanctions Violations

Federal prosecutors in the United States are investigating whether Binance Holdings Ltd., the operator of the world's largest cryptocurrency exchange, violated U.S. sanctions on Iran by allowing certain trading activity on its platform.

The inquiry is being handled by the Manhattan U.S. Attorney's Office, with the U.S. Department of Justice's (DOJ) Criminal Division in Washington also participating. Authorities are examining whether Binance knowingly allowed the trading, according to reporting.

Binance reported a 96.8% drop in sanctions exposure from January 2024 to July 2025, citing enhanced transaction monitoring. However, this development comes after a previous investigation found that $1.7 billion had moved from two Hong Kong firms, Blessed Trust and Hexa Whale, toward wallets tied to Iranian entities.

The current probe is distinct from the civil forfeiture case filed in September 2026, which targeted approximately $61 million in cryptocurrency allegedly linked to black-market sales of sanctioned Iranian crude oil. Binance was not charged in that case, but prosecutors alleged that Blessed Trust and Hexa Whale used trading accounts at Binance to launder proceeds.

The DOJ's inquiry is a development in the ongoing saga surrounding Binance's compliance with U.S. sanctions laws. In 2023, the exchange pleaded guilty to violating AML and sanctions laws, agreeing to pay approximately $4.3 billion in penalties.