Binance Faces DOJ Probe Over Alleged $1.7B Iran Crypto Flows Even After Internal Review Came Up Blank: Report

According to a report by The Wall Street Journal, officials from the Department of Justice have contacted individuals with knowledge of the transactions to request interviews and gather evidence.

• The report of a probe comes after Binance conducted its own internal investigation and told the Senate that it found no evidence of funds tied to Iranian groups passing through its exchange.
• Binance added that its review identified only indirect exposure to wallets that may have had connections to Iran and said those accounts have been removed from the platform.
• Binance has previously faced enforcement action from U.S. authorities in 2023 over anti-money laundering and sanctions compliance failures.

Binance (BNB) is reportedly being investigated by the Department of Justice (DOJ) for its role in Iran using cryptocurrency to evade U.S. sanctions. 

According to a report by The Wall Street Journal, officials have contacted people with knowledge of the Iranian transactions to seek interviews and gather evidence.

BNB’s price slipped 2.25 in the last 24 hours amid broader weakness in the crypto market. As per Stocktwits data, retail sentiment around the altcoin remained in ‘bearish’ territory over the past day.

What Is The $1.7 Billion Binance Iran Scandal?

The investigation follows claims that roughly $1.7 billion in cryptocurrency may have moved through Binance accounts tied to Iranian groups. The allegations prompted a probe by Richard Blumenthal, a U.S. senator who had earlier this year requested information from the exchange.

Binance has rejected the allegations. In a response to the U.S. Senate, the company said an internal investigation found no evidence that accounts on its platform conducted direct transactions with Iranian entities.

Binance added that its review identified only indirect exposure to wallets that may have had connections to Iran and said those accounts have been removed from the platform.

The company also criticized media coverage that helped trigger the investigation, describing reporting from outlets including The New York Times, The Wall Street Journal, and Fortune as “demonstrably false” and “defamatory in several material respects.”

These reports claimed several investigators were dismissed from Binance after flagging the flows. Binance refuted the allegations, claiming that only a small number of staff left due to "normal turnover" or "unauthorized disclosure of internal information."

Is The DOJ Investigating Binance Again In 2026?

The investigation comes after Binance previously faced enforcement action from U.S. authorities in 2023 over anti-money laundering and sanctions compliance failures.

As part of that case, Binance founder Changpeng Zhao pleaded guilty and was later sentenced to four months in prison. The company agreed to pay more than $4 billion in penalties and withdrew from the U.S. market.

For updates and corrections, email newsroom[at]stocktwits[dot]com.<