Binance Responds to WSJ Report on Alleged Iran-Linked Transactions
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Binance disputed a Wall Street Journal report alleging internal documents linked about $850 million in transfers to accounts tied to Iranian businessman Babak Zanjani, saying the transactions occurred before sanctions and calling the reporting inaccurate. CEO Richard Teng said Binance investigated early and continues to work with global regulators, but the allegations highlight crypto compliance, sanctions and money laundering risks for the CEX and broader ecosystem.
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- Binance disputed WSJ claims and said reported transactions occurred before sanctions were imposed.
- Internal reports allegedly linked $850 million in Binance transfers to Babak Zanjani accounts.
- Binance said it investigated the activity early and continues working with global regulators.
Binance Chief Executive Officer Richard Teng pushed back against a report by The Wall Street Journal alleging that Iranian-linked entities continued to move funds through the crypto exchange despite sanctions scrutiny of the company.
The response followed claims that accounts linked to Iranian businessman Babak Zanjani remained active on the platform for months after internal investigators reportedly identified suspicious activity linked to sanctions evasion and money laundering.
In a statement on X, Teng said the newspaper’s reporting contained “fundamental inaccuracies” r…
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