DOJ investigates Binance transactions suspected of funding Iran proxies

The Justice Department is investigating whether Iran utilized Binance, the world's largest cryptocurrency exchange, to bypass U.S. sanctions. The investigation centers on over $1 billion in transactions that reportedly flowed through the platform to networks supporting Tehran-backed militant groups, including Yemen’s Houthi rebels. Federal officials are interviewing individuals with knowledge of these transactions and gathering evidence linking the funds to Iran’s Islamic Revolutionary Guard Corps. The transactions were initially flagged by Binance’s internal compliance team, which identified approximately $1.7 billion moving from Chinese clients into digital wallets allegedly used by Iran. Blessed Trust, a Hong Kong-based payments firm, reportedly facilitated over $1 billion of these transfers. Notably, Binance suspended the employees who conducted this internal investigation shortly after they presented their findings to company leadership. A monitor appointed by the Treasury Department is also seeking detailed information about the transactions and Blessed Trust’s involvement.

(Source：Crypto Briefing)