According to ChainCatcher, investigators from Binance's compliance team discovered that entities linked to Iran received over $1 billion through the exchange, with these transactions conducted via Tether on the Tron blockchain, potentially violating sanctions laws. Following the disclosure of these findings in an internal report, at least five people began being laid off starting in late 2025.
In addition, at least four senior compliance personnel have left or been dismissed in the past three months. Binance's Chief Compliance Officer, Noah Perlman, plans to leave later this year, but his departure is unrelated to the dismissal of investigators. A Binance spokesperson stated that, according to policy, the company cannot comment on ongoing investigations and is committed to complying with all applicable sanctions laws and regulations in the markets in which it operates. It is understood that Binance admitted in 2023 to violating anti-money laundering, customer identity verification laws, and sanctions regulations, agreeing to pay a $4.3 billion fine.
