Iran-Backed Terrorists Funneled Over $1 Billion Through Binance to Fund Attacks, DOJ Launches Probe
Iran’s regime and its proxy terror groups, including Yemen’s Houthis, allegedly exploited the world’s largest crypto exchange Binance to secretly move more than $1 billion in funds supporting their violent operations and evading U.S. sanctions.
According to reports from The Wall Street Journal and other outlets, internal Binance probes identified massive suspicious flows linked to networks backing the IRGC and Houthi militants. Rather than fully shutting it down, the platform faced criticism for its handling of the matter, including staff changes and delayed action on flagged accounts.
Now the U.S. Department of Justice has opened an investigation into Iran’s use of Binance to circumvent sanctions and channel money to terrorist organizations. This comes after Binance’s massive 2023 $4.3 billion settlement with U.S. authorities over past failures to stop money laundering and sanctions violations.
Binance insists it has strengthened compliance since then, blocks Iranian users, and cooperates with law enforcement—but the revelations raise serious questions about how effectively crypto giants prevent terror financing.
America’s enemies continue finding ways to exploit weak spots in the financial system to bankroll attacks on U.S. interests and allies. Time for tougher enforcement and real accountability.