Binance’s $4.3 billion deal with the US government is reportedly under fresh scrutiny from federal prosecutors.
The Justice Department is reviewing whether the crypto exchange has lived up to the terms of its 2023 settlement, reports Bloomberg, citing Tyson Duva, head of the department’s Criminal Division.
The review comes amid an investigation into whether Binance may have knowingly allowed transactions that broke US sanctions against Iran.
In September, prosecutors sought to seize about $61 million in crypto that investigators say came from illegal Iranian oil sales and moved through Binance accounts.
A separate Wall Street Journal investigation found accounts linked to Iranian financier Babak Zanjani processed roughly $850 million, some of which may have been tied to Iran’s Islamic Revolutionary Guard Corps.
Duva confirmed the DOJ’s involvement but did not claim Binance violated the settlement, and no new charges have been filed against the company or its employees.
If the DOJ finds a breach, it could reopen criminal prosecution over previously settled conduct, and Bloomberg notes the risk of new multibillion-dollar penalties.
Binance and founder Changpeng Zhao pleaded guilty in November of 2023, with the exchange agreeing to pay about $4.3 billion.
The deal included a three-year DOJ monitorship by Forensic Risk Alliance and separate five-year oversight from the Financial Crimes Enforcement Network (FinCEN).
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The post DOJ Reviewing Whether Binance Broke Its $4,300,000,000 Plea Deal Amid Iran Sanctions Probe: Report appeared first on The Daily Hodl.