“Binance takes its legal obligations seriously and shares your interest in the safety of its platform,” the exchange wrote in the letter. “The recent reporting on which your inquiry relies, however, is demonstrably false, unsupported by credible evidence, and defamatory in several material respects.”
The alleged infractions identified two Hong Kong-based partners, Hexa Whale and Blessed Trust, that allegedly facilitated sanctions-evading transactions and approximately 2,000 other accounts associated with Iranian entities, according to the Wall Street Journal reporting.
But according to Binance, after law enforcement requests about those two firms, additional internal investigations led to offboarding of their accounts.
“After receiving the requests, Binance investigators initiated a comprehensive review to determine not only Binance’s exposure to the wallets implicated by the outreach, but any other Binance users with such exposure,” the firm said of its investigation into Hexa Whale. It offboarded the account in August 2025, it said.
A similar internal investigation followed for Blessed Trust, and once more led to the offboarding of the account in January 2026.
“Once again, Binance appropriately investigated and addressed these issues,” the exchange said."
In disputing the alleged reporting inaccuracies, Binance also backed its compliance processes, noting that it has “invested hundreds of millions of dollars in compliance infrastructure to build a strong compliance program,” which it said boasts more than 1,500 employees worldwide.
“Binance has a rigorous compliance program that is consistently growing stronger. When there is credible risk information, Binance investigates, mitigates, offboards accounts, and reports to appropriate authorities,” it wrote. “With respect to the matters described in the letter, that compliance process was, in fact, effective.”
