U.S. DOJ investigating Binance over alleged Iran sanctions evasion

The U.S. Department of Justice (DOJ) has launched an investigation into allegations that Iran used Binance to evade U.S. sanctions and finance terrorist organizations, the Wall Street Journal reported exclusively. Binance reportedly identified over $1 billion in funds flowing to an Iran-linked terror financing network through an internal probe but subsequently disbanded the investigation team. The DOJ is reportedly in contact with individuals involved in the transactions and is focusing on whether Binance itself committed any wrongdoing or if the issue is confined to customers who used the platform. Binance stated that it has never directly transacted with sanctioned entities and has cooperated with regulators to block the network.