Binance Processed $850 Million in Transactions Tied to Network Suspected of Evading Iran Sanctions
JH Kim
Summary
- Cointelegraph reported that Binance processed about $850 million in transactions linked to a network suspected of evading US sanctions on Iran.
- The network is suspected of being used to bypass US sanctions on Iran and move funds tied to Iran's Islamic Revolutionary Guard Corps (IRGC).
- It was not confirmed, however, whether the transactions actually violated sanctions or whether Binance was aware of their purpose.
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Cryptocurrency exchange Binance processed about $850 million in transactions tied to a network suspected of being used to evade US sanctions on Iran, a report said.
Cointelegraph reported on October 10 that its own investigation found Binance had handled roughly $850 million in transactions linked to an Iran-related network.
The network is suspected of being used to bypass US sanctions on Iran and move funds tied to Iran's Islamic Revolutionary Guard Corps, or IRGC.
It has not been confirmed whether the transactions actually violated sanctions. The report also did not establish whether Binance was aware of the purpose of the transactions.
JH Kim
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