Binance moved $1.7 bn to Iranian wallets in 'Chinese Nexus'

Internal documents cited by Fortune reveal over $1.7 billion flowed from Binance accounts to wallets linked to sanctioned Iranian groups like the IRGC. The report describes a 'Chinese Nexus' where VIP accounts transferred USDC to Iranian exchange Nobitex. Binance stated the wallets were not sanctioned at the time, so alerts were not triggered.