The cryptocurrency exchange Binance has reported significant progress in combating suspicious financial activities through enhanced compliance systems.
This is reported by Finway
Detection of a Network of Suspicious Accounts and Cooperation with Law Enforcement
Binance’s internal compliance program has enabled the identification of a complex network of suspicious financial transactions across several countries. Following an investigation, the company identified and blocked related accounts and forwarded the collected materials to law enforcement for further action.
In a press release, the company emphasized that the Binance platform was neither the starting nor the ending point of the funds in the mentioned scheme, but merely acted as a transit link in the chain of global transactions.
“The company has submitted the investigation results to law enforcement agencies.”
Management stressed that no employees were dismissed for raising concerns about compliance procedures. Additionally, Binance has significantly increased its investments in compliance in recent years: over $200 million is allocated annually to develop relevant areas, and about 20% of the staff work specifically in this field.
Significant Reduction in Exposure to Sanctioned Flows
According to Binance’s data, exposure to sanctioned flows, both direct and indirect, decreased by 96.8% from January 2024 to July 2025. Throughout 2025, the company processed over 71,000 requests from law enforcement agencies and facilitated the confiscation of more than $131 million related to illegal activities.
Binance is also actively conducting training events for law enforcement representatives, organizing over 160 specialized sessions focused on risks in the digital asset sector.
Denial of Allegations Regarding Iranian Transactions
Binance issued a statement regarding false interpretations in the media concerning transactions amounting to $1.7 billion related to Iran. The company emphasized that the allegations are based on a misinterpretation of the results of the internal investigation and the actions of the compliance program.
Binance employees were not dismissed for reporting compliance violations, and the company continues to cooperate with law enforcement and investigate suspicious financial operations. The investigation covered a complex network of transactions across several regions, including Asia and the Middle East. The funds that passed through the system originated from major regulated issuers of stablecoins and digital financial service providers from Singapore, and were then moved through a large number of intermediary wallets. Only after thorough analysis was it revealed that some addresses belonged to a single user network.
As a result, approximately $126 million of the total transaction volume ended up in wallets associated with Iranian addresses, of which $24 million could be linked to the Islamic Revolutionary Guard Corps (IRGC).
Previously, the court dismissed all charges against Binance related to aiding terrorism.