A single account linked to a resident of a low-income region in Venezuela made a transfer of $93 million using Binance, according to a FT report.
Binance allegedly allowed hundreds of millions of dollars in cryptocurrency to travel through accounts flagged for suspicious behavior, according to a Financial Times investigation.
The FT investigated leaked internal Binance data from 2021 to 2025 and discovered that numerous accounts kept trading despite red flags, including failed identity checks, unusual login locations, and high transaction volumes. Some accounts handled eight- and nine-figure sums in patterns that compliance experts said would usually result in freezes or inquiries at regulated financial institutions.
According to the report, one account associated with a resident of a low-income area in Venezuela transferred $93 million through Binance, with some money being tracked to wallets suspected by US and Israeli officials of enabling financing for Iran-linked organizations and Lebanon's Hizbollah.
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