International Media Accuses Binance of Supporting Iran's Cheating And Corrupt Practices

Binance reportedly processed more than $8 billion in Iranian transactions since 2018.

According to Chainalysis, $7.8 billion worth of funds flowed between Binance and Iran's largest crypto exchange Nobadex.

Three-quarters among the Iranian funds that went through Binance flowed into Tron which allows users to mask their identities.

In Nobitex's last year blog, its customers were encouraged to trade using Tron anonymously, without placing "assets at risk due to sanctions.

As the Department of Justice begins its investigation into potential money laundering violations at Binance, the newly identified findings arrive.

Reuters revealed that the exchange was still in communication with Iranian users in July of 2022.

In early 2020, federal prosecutors ordered Binance to provide internal records of the anti-money laundering controls and disclosures of CEO Changpeng Zhao.