Binance Rejects WSJ Claims Over Iran-Linked Crypto Transactions

Binance has strongly denied a new Wall Street Journal report alleging the crypto exchange processed massive Iran-linked cryptocurrency transactions involving sanctioned entities accused of terror financing. Binance CEO Richard Teng publicly criticized the report, saying it contained “fundamental inaccuracies” regarding the company’s compliance practices and anti-money laundering controls.

The controversy centers on Iranian financier Babak Zanjani, described in the report as an “antisanction” operator. According to the WSJ investigation, Zanjani’s network allegedly conducted nearly $850 million in crypto transactions through a single Binance account over a two-year period. The report claimed the activity continued until December 2025 and stated that Binance compliance staff had flagged concerns about the account several times.

The latest accusations follow previous reporting from February 2026, where the publication alleged Binance facilitated more than $1 billion in transactions connected to Iranian operations. Teng firmly rejected those claims, stressing that Binance has never allowed sanctioned individuals or organizations to trade on its platform.

The Binance CEO explained that the transactions referenced in the report allegedly occurred before the individuals involved were officially sanctioned. Teng also revealed that Binance had already launched an internal investigation into the matter before receiving inquiries from The Wall Street Journal.

In a statement posted on X, Teng emphasized Binance’s “zero-tolerance” policy toward illicit financial activity and highlighted the exchange’s industry-leading compliance framework. He added that Binance continues to cooperate closely with global law enforcement agencies, including authorities in the United States, to combat financial crime and strengthen crypto compliance standards worldwide.

The dispute comes amid increasing regulatory scrutiny surrounding crypto exchanges and sanctions enforcement. Earlier in March 2026, Binance filed a lawsuit against The Wall Street Journal over what the company described as inaccurate and misleading reporting related to its operations and compliance procedures.