Binance denies report it violated Iran sanctions, fired investigator

Binance Co-CEO Richard Teng has refuted reports that the exchange violated sanctions against Iran and fired an internal investigator who discovered Iran-linked transactions, calling the claims entirely untrue. In a post on X, he explained that no employee has ever been fired for raising compliance issues and that Binance has not violated U.S. or international sanctions. Regarding the Iran-related transactions, Teng said there were three unverified wallets between a Binance wallet and the final receiving wallet. He added that after an internal investigation, Binance blocked the relevant accounts and reported the matter to law enforcement, emphasizing that no funds flowed directly from a Binance wallet to any sanctioned or Iran-related entity. Binance previously announced its intention to take legal action against the Wall Street Journal (WSJ) for defamation over its reporting on the matter.