[70723] Investigation: Billions of dollars from Iran transferred through the 'Binance' crypto exchange despite sanctions

Investigation: Iran bypassed sanctions using the 'Binance' crypto exchange

According to a report by the Wall Street Journal, published today, May 22, 2026, the Islamic Republic of Iran managed to transfer billions of dollars through the international crypto exchange 'Binance' in order to bypass economic sanctions. The opposition media outlets Iran International and Al Arabiya Farsi point out that the activity continued even after 'Binance' paid a $4.3 billion fine in 2023 for anti-money laundering violations.

According to Iran International, the key figure in the affair is businessman Babak Zanjani, who carried out transactions totaling approximately $850 million on the exchange within about two years. Knowledgeable sources cited in the report claim that "about $425 million of that may have been used to fund Iran's military apparatus."

At the same time, Al Arabiya Farsi emphasizes that the U.S. Department of Justice has now opened a renewed investigation into the affair, in light of claims that the Central Bank of Iran and entities linked to the regime used accounts on the exchange for many long months, despite internal warnings within the system.

In response to the reports, 'Binance' denied the allegations. The company emphasized that it "does not tolerate illegal activity" and claimed it did not execute any direct transactions with entities under sanctions.