Crypto exchange Binance is facing renewed scrutiny after reports that several compliance investigators were dismissed following internal findings tied to Iran-related transactions. The developments come amid broader changes within the exchange’s compliance structure and public comments from former CEO Changpeng Zhao.
According to a report by Fortune, investigators on Binance’s compliance team identified more than $1 billion in transactions linked to entities tied to Iran between March 2024 and August 2025. The transactions reportedly involved the stablecoin Tether on the Tron blockchain. After internal reports were submitted, at least five investigators were dismissed starting in late 2025.
Internal Findings and Reported Firings
The dismissed staff included 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.
Fortune cited anonymous sources who said at least four additional senior compliance officials have left or were pushed out in recent months. Binance declined to comment on individual personnel matters. A company spokesperson said, “As a matter of policy, we cannot comment on ongoing investigations. Binance is committed to complying with all applicable sanctions laws.”
The company added that employees who breach company policy are subject to dismissal and that its compliance teams remain active. The reported dismissals occurred while Binance remains under a government-imposed monitorship following its 2023 settlement with U.S. authorities.
Former Binance CEO CZ Responds to Allegations
Changpeng Zhao, known as CZ, responded publicly to the report. He stated that he does not know the details but questioned the narrative presented. “I don’t run Binance anymore, but as an ex-CEO, I know they run EVERY transaction through multiple third party AML tools,” Zhao wrote on social media.
He also noted that the same AML tools are used by law enforcement agencies. Zhao argued that anonymous sources can shape negative narratives without clear evidence. He suggested that if violations occurred, external monitoring systems would likely have detected them.
As of today, Zhao remains the majority stakeholder of BNB. He controls about 94 million BNB tokens, representing roughly 64% of the circulating supply.
In 2023, Binance pleaded guilty to anti-money laundering and sanctions violations and agreed to pay $4.3 billion in penalties. Zhao also pleaded guilty to failing to implement adequate oversight and later served a four-month sentence. He stepped down as CEO, and Binance appointed Richard Teng as his successor.
Compliance Restructuring and Regulatory Oversight
Following the 2023 settlement, Binance pledged to improve compliance controls and expand its internal oversight. In November 2024, the exchange announced plans to increase its compliance staff by 34% to 645 employees. Job listings indicate that the company continues to hire for compliance roles.
The reported firings also come as Binance seeks a successor for Chief Compliance Officer Noah Perlman, a former U.S. prosecutor. A source familiar with the matter said Perlman plans to transition out later this year, and his departure is not tied to the investigator dismissals.
The timing of the events coincides with political developments in the United States. As the Coinpaper reported, President Donald Trump granted Zhao a pardon in October 2025 related to his earlier conviction. Binance has also engaged lobbyists in Washington and supported crypto initiatives linked to World Liberty Financial.
Security Incident in France
Separate from the compliance issue, Binance France head David Princay was targeted in an attempted home invasion on February 12. According to local police, three masked men entered a residential building in Val-de-Marne searching for the executive. They failed to locate him and left with two mobile phones.
Authorities reported that the same group later attempted a second break-in in Vaucresson but targeted the wrong address. Police tracked the suspects using surveillance footage and arrested them at Lyon Perrache station. Yi He, co-founder of Binance, confirmed that the employee and his family are safe and that the company is cooperating with law enforcement.
Source: https://coinpaper.com/14597/binance-under-fire-after-letting-go-of-investigators-behind-iran-sanctions-findings
