Binance Under Fire After Reports That $1.7 Billion in Crypto Flowed to Iran
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The world’s largest crypto exchange is under fire after investigators found accounts moving $1.7 billion to Iranian entities. Clues about those accounts were in plain sight for over a year.
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They concluded that about $1.2 billion had flowed from Blessed Trust’s Binance account to Wu Jintu and other intermediaries, before reaching a cluster of crypto wallets tied to Iran. Another $500 million reached those entities from a second Binance account, registered to a now-defunct company called Hexa Whale. The investigators found links between the wallets and Iran’s Islamic Revolutionary Guards Corps, which is classified as a terrorist group by the United States and other countries.
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