The U.S. Department of Justice is investigating allegations that Iran utilized Binance, a cryptocurrency exchange, to circumvent U.S. sanctions.
Investigators are examining whether transactions on the platform facilitated the movement of funds to entities linked with Iran, including Houthi militants in Yemen. Company documents and sources familiar with the matter indicate the DOJ is gathering evidence by contacting individuals knowledgeable about these transactions.
The probe follows prior reports suggesting Binance halted an internal inquiry into approximately $1 billion that reportedly moved through the platform to a network connected to Iranian proxy groups.
Binance has previously pleaded guilty to violating U.S. anti-money laundering and sanctions laws, resulting in a $4.3 billion fine and ongoing U.S. oversight. Former Binance CEO Changpeng Zhao also pleaded guilty to related charges and served a jail sentence.