GoKawiilDOJ links Binance transactions to $1.5B Iran funding scheme
The Justice Department alleges that Hong Kong-based firms Hexa Whale and Blessed Trust used Binance to route roughly $1.5 billion in cryptocurrency tied to black-market Iranian oil sales to Chinese buyers, with proceeds ultimately reaching Iran's Islamic Revolutionary Guard Corps. Prosecutors filed a forfeiture complaint seeking to seize $61 million connected to the scheme, and some funds reportedly passed through the US financial system to obscure their origin. Binance confirmed the companies' involvement, removed them from its platform, and dismissed several internal investigators who flagged the transactions.
GoKawiil's interpretation of the reporting above, not reported fact.
This case adds to Binance's history of sanctions and money-laundering troubles, following its 2023 guilty plea and billions in fines, raising fresh questions about whether its compliance systems can actually prevent sanctioned regimes from exploiting crypto rails. The firing of investigators who uncovered the scheme is particularly notable, as it could suggest internal resistance to transparency even as regulators intensify scrutiny of crypto's role in sanctions evasion.
- DOJ alleges $1.5B moved to Iran via Binance-linked wallets tied to oil sales.
- Binance fired investigators who flagged the suspicious transactions.
- The case follows Binance's 2023 guilty plea for anti-money-laundering violations.
Source: engadget.com — Lawrence Bonk, 2026-09-15
Published there as: “DOJ says companies used Binance to funnel $1.5 billion in crypto to Iran”
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