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Posted on 02/23/2026 12:40:20 PM PST by Miami Rebel
A group of internal investigators at the giant cryptocurrency exchange Binance made a series of startling discoveries last year.
People in Iran had gained access to more than 1,500 accounts on the Binance platform over the previous year. About $1.7 billion had flowed from two Binance accounts to Iranian entities with links to terrorist groups, a possible violation of global sanctions. And one of those accounts belonged to a Binance vendor.
After uncovering the transactions, the investigators reported them to top executives, according to company records and other documents reviewed by The New York Times.
Within weeks, Binance fired or suspended at least four employees involved in the investigation, according to the documents and three people with knowledge of the situation. The company cited issues such as “violations of company protocol” related to the handling of client data.
The sequence of events shows that Binance, the world’s largest venue for crypto trading, has continued to find evidence of potential legal violations on its platform, even after it pleaded guilty to breaking anti-money-laundering laws in 2023. At the time, the company pledged to crack down on bad actors who used its platform to move money, and said it had hired more than 60 employees with law enforcement or regulatory experience to address the problem.
But internal warnings about the Iranian transactions surfaced last year, in the months before President Trump granted a pardon to Binance’s founder, Changpeng Zhao, who had spent four months in federal prison in 2024 for his role in the firm’s crimes. The Trump family’s crypto start-up, World Liberty Financial, has forged close business ties with Binance, and Mr. Zhao was a guest this month at a conference at Mar-a-Lago, Mr. Trump’s club in Palm Beach, Fla.
(Excerpt) Read more at nytimes.com ...
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FFS
Oops.
Yep, I dont get it (crypto currency) and this illustrates why.
Gee how did that happen?
Filling out my 1040 I had to declare that I did/did not do any digital transfers.
What good does that do?
The company cited issues such as “violations of company protocol” related to the handling of client data.
Big fing deal with $1.7 Billion on the line they got their take.
Wonder why the internal investigators giant don’t call the law?.
OH WAIT
All of this is disturbing. However, the only reason it made the NYT was the tenuous connection to THE GREAT SATAN OF THE SOLAR SYSTEM, Donald Trump.
Stop with “This is disturbing.”
You think the media should avoid stories on one of the biggest financial “innovations” of the last few decades?
They fired the people doing the review?
That is a crud company and I hope it is sued.
how much of that $1.l7 bb came from USAID funded NGO accounts? (aka: USA tax payer funded)
Do $100 bills next.
There is a LOT more corruption and terrorist funding using $100 bills than any other type of currency.
The fact that a central authority cannot “shut down” bitcoin is a feature, not a flaw. Because today, they want to stop Iran…but a couple years ago it was Canadian Truckers and Chinese Social Scores. Tomorrow it will be the Fed…again. Remember when the Fed confiscated Gold?
If we made every person holding $100 bills to go into a bank and exchange them with new ones…the world’s underground economy would collapse.
Bitcoin is a literal drop in that bucket.
They find this out now?
The old guilt by association scam, which is the real reason for this article.
“Do $100 bills next”
.
During the Reagan era, Iran counterfeited $100 US bills.
Termed “an act of war” back then, the fake $100s were preferred in the USSR to the ruble, as the ruble had no credibility...!
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