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How Binance accounts moved USD1 Billion to Iranian Entities

March 9, 2026

When Binance's own investigators traced nearly $1 billion in cryptocurrency flowing toward an IRGC-linked shadow banking corridor, they did everything right: they mapped the network, briefed senior leadership, cooperated with law enforcement. Then they were fired. The accounts stayed open. This is what compliance failure looks like when it's a feature, not a bug — and why external visibility into executive-linked relationships has become the last line of defense for institutions with crypto counterparty exposure.