Billions of dollars have reportedly been moved through Binance to finance Iran's regime and its Islamic Revolutionary Guard Corps (IRGC), with some transactions allegedly occurring as recently as May 2026. [2, 3, 6] This activity is said to have continued despite Binance pleading guilty and paying a $4.3 billion fine in 2023 for violating U.S. sanctions and anti-money-laundering laws. [3, 5]
A network linked to sanctioned Iranian operator Babak Zanjani allegedly processed approximately $850 million through the exchange, with funds largely originating from Chinese buyers of Iranian oil. [3, 6] While internal compliance reportedly flagged the accounts, they remained active for months. [3, 8] Binance has disputed the findings, stating the information is inaccurate and that the company has "zero tolerance for illicit activity." [2, 7]