Binance Faces Scrutiny Over Firing Investigators Tied to Iran Sanctions Findings

Crypto exchange disputes claims it dismissed compliance staff after they uncovered over $1 billion in Iran-linked transactions

Published on Feb. 13, 2026

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Binance, the crypto exchange, is facing renewed scrutiny after reports that several compliance investigators were dismissed following internal findings tied to Iran-related transactions. The exchange disputes the claims, with former CEO Changpeng Zhao questioning the narrative presented by anonymous sources. The reported firings come as Binance seeks to improve its compliance controls following a 2023 settlement with U.S. authorities over anti-money laundering and sanctions violations.

Why it matters

The allegations against Binance raise concerns about the exchange's commitment to compliance and sanctions enforcement, especially given its previous legal troubles. The reported dismissals of investigators could undermine trust in Binance's ability to detect and prevent illicit financial activity. This story also highlights the broader challenges crypto platforms face in navigating complex regulatory environments and maintaining robust compliance programs.

The details

According to the report, Binance's compliance team identified more than $1 billion in transactions linked to entities tied to Iran between March 2024 and August 2025, involving the stablecoin Tether on the Tron blockchain. After these findings were submitted internally, at least five investigators were dismissed starting in late 2025, including individuals with law enforcement backgrounds in Europe and Asia. Several held leadership roles related to financial crime investigations and sanctions compliance. The exact reason for their termination has not been publicly confirmed.

  • In late 2025, at least five compliance investigators were dismissed from Binance.
  • The reported dismissals occurred while Binance remains under a government-imposed monitorship following its 2023 settlement with U.S. authorities.
  • In October 2025, President Donald Trump granted Binance CEO Changpeng Zhao a pardon related to his earlier conviction.

The players

Binance

A leading cryptocurrency exchange that has faced scrutiny over compliance and regulatory issues.

Changpeng Zhao (CZ)

The former CEO of Binance, who remains the majority stakeholder of BNB and has publicly disputed the claims about the dismissal of compliance investigators.

Noah Perlman

Binance's Chief Compliance Officer, who plans to transition out of the role later this year.

Richard Teng

The current CEO of Binance, appointed after Changpeng Zhao stepped down in 2023.

Donald Trump

The former President of the United States, who granted Changpeng Zhao a pardon in October 2025.

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What they’re saying

“As a matter of policy, we cannot comment on ongoing investigations. Binance is committed to complying with all applicable sanctions laws.”

— Binance spokesperson (Fortune)

“I don't run Binance anymore, but as an ex-CEO, I know they run EVERY transaction through multiple third party AML tools.”

— Changpeng Zhao, Former CEO, Binance (Social media)

“Employees who breach company policy are subject to dismissal and that its compliance teams remain active.”

— Binance spokesperson (Fortune)

What’s next

Binance continues to hire for compliance roles as it seeks a successor for Chief Compliance Officer Noah Perlman, who plans to transition out of the role later this year.

The takeaway

The allegations against Binance highlight the ongoing challenges crypto platforms face in maintaining robust compliance programs and navigating complex regulatory environments. The reported dismissals of compliance investigators could undermine trust in Binance's commitment to sanctions enforcement and anti-money laundering efforts, even as the exchange works to improve its compliance controls.