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According to WSJ, financing networks related to the Iranian regime have used Binance to establish a secret payment system and transfer funds to military forces. The network is operated by Iranian businessman Babak Zanjani, who claims to be a "counter sanction" operator. According to Binance's internal compliance report, as of December last year, the network has completed approximately $850 million in transactions through Binance over the past two years, with the majority concentrated in a single account.