Overview
- In a March 6 letter to Sen. Richard Blumenthal’s subcommittee, Binance said its internal review found only indirect exposure to potentially Iran‑linked wallets and that it offboarded Hexa Whale in August 2025 and Blessed Trust in January 2026.
- Binance said its probe began after law‑enforcement outreach in April 2025 about flagged external addresses and that it provided user records and transaction data to investigators.
- The exchange called reporting by the New York Times, Wall Street Journal and Fortune defamatory, disputed claims it identified about 2,000 Iran‑associated accounts, and highlighted expanded KYC and sanctions controls with 1,500+ compliance staff.
- Senators have requested DOJ and Treasury assessments with a March 13 response deadline, and no new enforcement actions tied to the Iran‑linked allegations have been announced.
- Separately on March 6, a U.S. judge dismissed a civil suit accusing Binance and founder Changpeng Zhao of facilitating terrorist financing, though plaintiffs were allowed to amend their complaint.