According to a report by TechFlow on May 23, Binance CEO Richard Teng denied a Wall Street Journal report that the platform processed approximately $850 million in Iran-related transactions that ultimately flowed to the Iranian Islamic Revolutionary Guard Corps, stating that the report was "completely inaccurate." The report claimed that Babak Zanjani and his network, who were re-sanctioned by the US, transferred funds through Binance accounts over a two-year period. Richard Teng stated that Binance never allowed sanctioned individuals to conduct transactions, and any flagged activity occurred before the US sanctions took effect.
Previously, The Wall Street Journal also reported that Binance had issued multiple compliance alerts for the relevant accounts.
