Binance Faces DOJ Probe Over Iran Sanctions

U.S. prosecutors from the DOJ Criminal Division and the Manhattan U.S. Attorney’s Office are investigating whether Binance knowingly allowed Iran-linked trading that violated American sanctions, Bloomberg reported on September 22. A September 14 civil forfeiture complaint seeks about $61 million in USDT across 10 wallets allegedly tied to Iranian black-market oil sales routed through Chinese entities Blessed Trust and Hexa Whale. The FBI said, "By cutting off funds raised by the black-market sale of crude oil, the Iranian military and terrorists are weakened. The FBI will not relent in its resolve to drain the funds from dangerous foreign actors." Contested: Binance was not charged in the forfeiture case, and CEO Richard Teng denied wrongdoing. Prosecutors allege a network processed more than $1.5 billion in unlawful oil revenues, with up to $24.1 million reaching IRGC-linked wallets per Binance’s analysis; Binance says it found no direct trades with Iran-based entities and that it terminated Hexa Whale on August 13, 2025 after April 2025 law-enforcement contact and removed Blessed Trust in January 2026. The probe follows Binance’s 2023 Bank Secrecy Act and IEEPA guilty plea, a $4.3 billion settlement, and a three-year compliance monitor. No charges have been filed in the new investigation.