Binance has issued a response to a series of media reports alleging that the exchange transferred $1.7 billion to Iranian entities subject to sanctions, fired employees for attempting to investigate violations, and blocked internal audits.
According to Binance, the situation is different: the funds did not originate or end on the exchange but passed through numerous intermediary wallets. The company claims that only about $126 million of the amount in question ultimately reached wallets with Iranian ties, of which $24.1 million went to wallets linked to the IRGC. The exchange states that it identified the suspicious activity itself during its investigation, froze the involved accounts, and shared the information with law enforcement.
According to the company, the dismissals of compliance staff were not related to the investigations.
Binance also cites the following statistics:
- a 96.8% reduction in the impact of sanctions,
- processing of over 71,000 requests from law enforcement in 2025,
- $131 million in illicit funds seized.
