🔸 The possibility of Zanjani's network using Binance for Iranian money transfer

🔸 The possibility of Zanjani's network using Binance for Iranian money transfer

An internal Binance report shows that a network linked to Babak Zanjani, the well-known financial figure of the Islamic Republic, used the world's largest cryptocurrency exchange to create a new financial path to bypass sanctions.

According to the Wall Street Journal, one of the key figures of this network is a Tajik man named Sukhrob Oimmakhmadov, who is known as a "valuable client" at Binance. This title provided him with benefits such as lower fees and exclusive services. This role required his accounts to be removed from the platform with the approval of Binance executives.

According to internal documents, the first warning signs appeared when his account had transactions with an Iranian exchange named "Ibn Tether". Subsequently, law enforcement officials in the US and Switzerland inquired about one of the accounts that was repeatedly accessed from Tehran. The Wall Street Journal wrote that Oimmakhmadov was the manager of a cryptocurrency company operating under the supervision of Babak Zanjani; a person whom US and Swiss authorities identified as the manager of a secret payment network for the Revolutionary Guards.

Binance said it would freeze related accounts in late 2025 and delete his last account in May of this year.

This newspaper previously reported that Iran used Binance as a back route to bypass US financial sanctions. According to the latest report, the Zanjani network used a collection of accounts and front companies to conduct about $850 million of transactions on Binance, most of which were done through a corporate account of a cryptocurrency company related to this network.