DOJ Says Companies Used Binance To Funnel $1.5 Billion In Crypto To Iran
President Trump pardoned the exchange's founder last year after he pled guilty to violating anti-money-laundering laws.
The US Department of Justice is accusing several companies of using the crypto exchange Binance to send money to Iran to fund its military, according to a report by The Wall Street Journal. Federal prosecutors disclosed Binance's alleged role in the scheme in a forfeiture complaint that looks to seize $61 million of cryptocurrency. In total, they say that around $1.5 billion was sent to the country via a series of interrelated digital wallets.
This scheme involves two Hong Kong-based companies called Hexa Whale and Blessed Trust, which acted as intermediaries to sell black-market Iranian oil to Chinese buyers. Binance itself confirmed this, as the company's internal investigatorsfound that the two entities, among others, had moved heaps of money through the exchange to a network that was funding Iran's Islamic Revolutionary Guard...
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