Overview
- Internal data reviewed by the Financial Times indicates roughly $144 million of the flagged flows occurred after Binance’s $4.3 billion U.S. criminal plea in November 2023.
- Several accounts received USDT from wallets later frozen by Israeli authorities and tied by officials to Tawfiq Al‑Law, who is accused of moving funds for Hizbollah and Iran‑backed Houthi groups.
- The files describe red flags such as impossible login locations, repeated identity‑verification failures, and activity likened by a former U.S. prosecutor to an unlicensed money‑transmitting business.
- Many of the suspicious transactions took place after the Justice Department and Treasury installed independent compliance monitors in May 2024, according to the FT.
- Binance said it maintains strict controls with zero tolerance for illicit activity, while the disclosures land as the SEC has dropped a related case, France is pursuing a probe, and President Trump recently pardoned founder Changpeng Zhao.