Binance Processed $850 Million in Transactions Tied to Network Suspected of Evading Iran Sanctions
Summary
- A report said Binance processed about $850 million in transactions tied to a network suspected of helping evade U.S. sanctions on Iran.
- The report said the network is suspected of being used to evade U.S. sanctions on Iran and move funds linked to Iran's Islamic Revolutionary Guard Corps (IRGC).
- It said it has not been confirmed whether the transactions actually violated sanctions or whether Binance knew the purpose of the transactions.
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Binance processed about $850 million in transactions tied to a network suspected of being used to evade U.S. sanctions on Iran, according to a report.
Cointelegraph reported on October 10 that its investigation found Binance handled roughly $850 million in transactions linked to an Iran-related network.
The network is suspected of being used to bypass U.S. 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 knew the purpose of the transactions.
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