Binance Let Suspect Accounts Move $1.7B Even After $4.3B US Plea Deal
After its $4.3 billion US criminal settlement in 2023, Binance continued to process transactions from suspicious accounts despite pledges for stricter controls. Internal data shows that 13 user accounts handled about $1.7 billion in transactions since 2021, including $144 million after the plea agreement. These accounts, linked to users in countries such as Venezuela, Brazil, Syria, Niger, and China, included cases where individuals moved millions of dollars and exhibited high-risk behaviors, such as frequent bank detail changes and geographically improbable login patterns. Specialists argue these red flags should have triggered compliance reviews at a regulated institution. The 13 accounts also received a combined $29 million in stablecoins from wallets later frozen by Israel under anti-terrorism laws. Binance had promised real-time monitoring and improved due diligence as part of its settlement, following US accusations of failing to report over 100,000 suspicious transactions involving serious crimes and terrorist groups. Binance did not comment on the new allegations.
