Binance fires compliance staff over $1B Iran-linked flags

Binance fired at least five compliance staff after they flagged $1B in transactions allegedly linked to Iran, raising concerns about the exchange’s compliance and oversight.

Multiple reports reveal that Binance dismissed at least five members of its compliance and investigative teams after they flagged over $1 billion in transactions allegedly tied to Iranian entities between March 2024 and August 2025. These transactions reportedly used Tether (USDT) on the Tron blockchain, a method previously linked to sanctions evasion involving Iran. The firings began in late 2025, with several affected staff holding senior positions and law enforcement backgrounds. Internal sources indicate that investigators presented their findings through official channels before being terminated. These departures have raised concerns about Binance's compliance standards and internal oversight, especially following the company's 2023 guilty plea to anti-money laundering, know-your-customer, and sanctions violations, which resulted in a $4.3 billion fine and a pledge to regulatory reforms. Despite Iran being a banned jurisdiction, the flagged transactions reportedly continued through Binance, highlighting ongoing compliance challenges.