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The Financial Times reviewed leaked internal files from 13 user accounts on the cryptocurrency exchange. It found that some of the funding was provided by accounts later frozen by Israel under anti-terrorism laws, and almost all was linked to a Syrian operative accused of moving money for Hezbollah, the Houthis in Yemen and the Assad regime in Syria. (Financial Times)
Talking point: The accounts have moved about US$144 million since Binance’s Nov. 2023 plea deal forced the crypto firm to step up its compliance efforts. The accounts showed other suspicious activity, including one that changed its payment bank details 647 times in a 14-month period. Still, Binance told FT that none of the accounts belonged to sanctioned individuals, and none had been flagged for terrorism financing at the time of the transactions.
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