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WSJ Reveals Alleged $850 Million Transfers to Iranian Authorities Through Binance
Iranian businessman Babak Zanjani transferred approximately $850 million to Iranian authorities through Binance over a two-year period. This was reported by The Wall Street Journal, citing company documents, law enforcement officials, and other sources. Binance stated that the transfers “have nothing to do” with the platform.
According to WSJ, Iran’s Islamic Revolutionary Guard Corps received roughly half of the total amount — around $425 million. The transactions were reportedly conducted through several accounts belonging to Babak Zanjani, his sister, the director of one of his companies, and other individuals connected to the businessman.
In March, The Wall Street Journal reported that the US government had launched an investigation into Binance over alleged involvement in financing Iran in violation of sanctions. The company denied the allegations and filed a defamation lawsuit against the newspaper.
Binance reportedly dismissed employees involved in the internal investigation into the alleged illegal transfers, according to WSJ and The New York Times. According to the reports, the platform’s management did not shut down the alleged Iran-related financing scheme.
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