Binance denies allegations of WSJ involvement in Iran sanctions transactions and files defamation lawsuit

According to WSJ, Binance has been accused of processing approximately $850 million in Iran sanctions related transactions within two years, with some funds flowing to the Islamic Revolutionary Guard Corps (IRGC) of Iran. Binance CEO Richard Teng denied the report on X platform, stating that it was "fundamentally inaccurate" and that the relevant behavior occurred before the subject was sanctioned by the United States. According to reports, Iranian businessman Babak Zanjani and his affiliated accounts have been accused of forming a secret payment network through Binance. WSJ reported that at the end of 2024, Binance's compliance system identified abnormal access to Tehran, but the relevant accounts were not closed in a timely manner. The Iranian central bank and other entities traded approximately $107 million through Binance between 2024 and 2025. Binance emphasizes its leading compliance system and has continued to strengthen risk control after paying a settlement of $4.3 billion, while filing a defamation lawsuit against WSJ.