Iran moved billions of dollars through Binance to fund their military

[NotATether]

Reposted from Altcoinstalks

As Iran braced for conflict with the U.S., a key regime financier built a secret payment network to keep money flowing to its military forces. At its core was Binance.

Until as recently as December, the network, run by Babak Zanjani, an Iranian who is a self-described “antisanction” operator, made $850 million in transactions over two years on the world’s largest cryptocurrency exchange, mostly on a single trading account, internal Binance compliance reports show.

Source: https://www.wsj.com/world/middle-east/iran-binance-crypto-military-e755b218

The more damning part of this is that Binance knew about all this movement and yet decided to let it happen anyway.

This is another reminder that KYC is just a sham, in order for governments to get all data about you, and tax you, while letting your data get leaked by hackers due to lax security practices.

[_act_]

It will be good to know that CEO of Binance has denied this according to what he posted on X about it.

https://x.com/i/status/2057692969378189552

He said that Binance did not permit any transactions with sanctioned individuals on its platform, and transactions mentioned by WSJ happened before these individuals were sanctioned.

[OmegaStarScream]

It will be good to know that CEO of Binance has denied this according to what he posted on X about it.

https://x.com/i/status/2057692969378189552

He said that Binance did not permit any transactions with sanctioned individuals on its platform, and transactions mentioned by WSJ happened before these individuals were sanctioned.

Binance sued The wall street journal for defamation not a long time ago: https://www.binance.com/en/blog/compliance/4629471661565530384

And based on that, I would highly doubt WSJ would simply publish another report, unless they have concrete evidence to backup their new claims.

[PX-Z]

It will be good to know that CEO of Binance has denied this according to what he posted on X about it.

https://x.com/i/status/2057692969378189552

He said that Binance did not permit any transactions with sanctioned individuals on its platform, and transactions mentioned by WSJ happened before these individuals were sanctioned.

They have the right to deny those allegations, or they will get another sanction and be fined for doing so, well, unless WSJ has strong, concrete evidence backing their allegations, just like mentioned above or another defamation case will be raised against them, since this is about the largest crypto exchange again getting penalized lol

[PrivacyG]

The more damning part of this is that Binance knew about all this movement and yet decided to let it happen anyway.

This is another reminder that KYC is just a sham, in order for governments to get all data about you, and tax you, while letting your data get leaked by hackers due to lax security practices.

Do not worry, after a particular amount of Money you can get your own 'Get out of jail free' card as in a Great Pardon by the sitting President.  Know Your Customer was always a tool for peasants.  Not for the Wealthy.

[uchegod-21]

Why do individuals use a KYCed CEX to move funds like the one explained by Op. Infact, of this is an individual, we would blame him, but this is an entire country. They should be more informed than an individual.

I had to think why they make such a mistake with large sums. Is it that is is exchanges like binance that has the liquidity they need as DEX will not have such a liquidity.

But whatever be the case, I believe there is a more privacy oriented means to bypass such an ugly act of using a KYC CEX to move funds