Binance allowed hundreds of millions of dollars to move through suspicious accounts even after promising to strengthen compliance as part of a $4.3 billion US criminal settlement in 2023, according to an exclusive Financial Times (FT) investigation. Internal files reviewed by the FT reveal accounts with red flags – including connections to terror financing networks, impossible login patterns, and failed identity checks – kept trading well after the November 2023 plea agreement. The leaked data covers transactions from 2021 through this year. One account belonged to a resident of a Venezuelan slum who moved $93 million through Binance between 2021 and 2025. Part of those funds came from a network later accused by US authorities of secretly moving money for Iran and Lebanon’s Hizbollah.

Full investigation: Internal Binance files show it failed to stop hundreds of millions in crypto from flowing through suspicious accounts, even after a 2023 US deal.