Binance, which has recently been at the center of money laundering accusations, is once again facing similar allegations. This time, the Iranian Revolutionary Guard is involved.
Accusations against Binance, the largest cryptocurrency exchange in the crypto market, continue. Trump, who pardoned its former founder Changpeng Zhao last year after he was imprisoned for money laundering charges, was cited as the main culprit for the October 10 collapse. This year, money laundering allegations are again on the agenda.
Binance Again Accused of Money Laundering
According to incoming information, the US Department of Justice alleges that some companies used the Binance exchange to transfer money to Iran to finance the country's military activities. Officials state that the total amount sent to Iran via interconnected digital wallets reached approximately 1.5 billion dollars.
At the heart of the allegations are two Hong Kong-based companies named Hexa Whale and Blessed Trust. These companies are stated to have acted as intermediaries, delivering Iranian oil sold on the black market to Chinese buyers. Binance also confirmed in its internal investigation that these two entities and some other structures transferred large sums of money through the exchange to a network financing the Iranian Revolutionary Guard.
Binance closed the accounts of Hexa Whale and Blessed Trust on its platform. However, it was notable that Blessed Trust was an official Binance payment service partner. Furthermore, the exchange's dismissal of some investigators who uncovered suspicious transactions also raised questions. Binance, however, defended that these employees were dismissed due to "personal circumstances."
Finally, the exchange is also accused of recently allowing Iranian financier Babak Zanjani to transfer over 850 million dollars within two years to support the country's war efforts. Zanjani denies these allegations.
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