Binance Refutes WSJ Claims of $850 Million in Iran-Linked Transactions
Binance denies new WSJ report alleging $850M in Iran-linked transactions

Image: Cointelegraph
Binance has denied a Wall Street Journal report alleging that it facilitated $850 million in transactions linked to Iran. The report claims that despite internal compliance alerts, certain accounts remained active, prompting investigations by the U.S. Justice Department. Binance, which previously pleaded guilty to violations, asserts it maintains a strong compliance program.
- 01The Wall Street Journal reported that Binance's internal compliance flagged a Zedcex account linked to Tehran in late 2024, yet the account remained open for over a year.
- 02Binance pleaded guilty in 2023 to anti-money laundering violations, paying a $4.3 billion fine and promising to improve its compliance systems.
- 03The Journal claims that Iran's central bank transferred $107 million in cryptocurrency to Binance accounts in 2025.
- 04Binance is reportedly under investigation by the U.S. Justice Department regarding the alleged use of its platform by Iran to evade sanctions.
- 05In response to the allegations, Binance filed a defamation lawsuit against the Wall Street Journal, seeking damages.
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Binance has strongly denied allegations made by the Wall Street Journal (WSJ) regarding $850 million in transactions linked to Iran. The report claims that internal compliance reports at Binance flagged a Zedcex account for access from Tehran in late 2024, yet the account remained operational for over a year despite multiple alerts. Binance's own investigators had recommended shutting down the account and reporting it to authorities, but it stayed active according to the WSJ. This comes after Binance pleaded guilty in 2023 to anti-money laundering and sanctions violations, resulting in a hefty $4.3 billion fine. Following this, the WSJ reported that the U.S. Justice Department is investigating Iran's alleged use of Binance to circumvent sanctions. Additionally, the Journal claimed that Iran's central bank moved $107 million in cryptocurrency into Binance accounts in 2025, and that around $260 million in transactions linked to Iranian terrorist financiers were tracked between 2024 and 2025. In response to these claims, Binance has filed a defamation lawsuit against the WSJ and maintains that it operates a robust compliance program.
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The allegations against Binance could further complicate its operations and relationships with regulators, potentially affecting its user base and market position.
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