Binance denies firing investigators over reported $1.7 billion crypto flows to Iran
Leading cryptocurrency exchange Binance has denied reports that the company fired internal investigators who discovered significant crypto flows into Iran through Binance accounts.
According to information from The Block, the estimated amount of such transfers is around $1.7 billion. It is assumed that these funds could have been used to circumvent the economic sanctions imposed by the US and other countries against Iran.
Binance stated that these accusations are not true. According to the company's representatives, they did not fire any employees involved in this investigation. Moreover, the exchange claims that it actively cooperates with law enforcement agencies and regulators to identify and suppress any illegal activity on its platform.
It is worth noting that the topic of compliance with the sanctions regime is a very sensitive one for large cryptocurrency exchanges. Last year, Binance was already accused of its services being used to circumvent anti-Iranian restrictions. The company then also denied these claims.
Experts note that despite Binance's statements, such incidents can negatively affect the exchange's reputation and user trust. Cryptocurrency platforms must be extremely careful when working with users from sanctioned countries to avoid accusations of aiding illegal activities.