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.
Binance itself confirmed this, as the company's internal investigators found 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 Corps.
The crypto exchange removed both Hexa Whale and Blessed Trust from the platform, though it's worth noting that the latter was an actual Binance business partner that provided payment services.
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How
Summarized version
Binance founder Changpeng Zhao spent four months behind bars on related charges. The exchange has recently been accused of allowing an Iranian financier named Babak Zanjani to send over $850 million over two years to help fund the country's war chest.
Headline check
All two things this headline claims are in the report.
Figures, names and quoted words in the headline, looked for in the report itself — not in the summary above. One figure in this headline has a decimal point in it. We match figures digit for digit against the report, and that comparison is not reliable for decimals, so that one was not checked either way rather than reported as missing. How this is checked
The article, shortened and in plain language
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.
Binance itself confirmed this, as the company's internal investigators found 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 Corps.
The complaint goes further and says that some of the money was sent through the US financial system before ending up in Iran.
The crypto exchange removed both Hexa Whale and Blessed Trust from the platform, though it's worth noting that the latter was an actual Binance business partner that provided payment services.
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