According to Bloomberg, on October 9, the U.S. Department of Justice probed cryptocurrency exchange Binance over potential breaches of its 2023 settlement agreement and alleged violations of Iran sanctions regulations. The DOJ's Criminal Division head Tysen Duva confirmed the investigation is ongoing but declined to disclose details. The Manhattan federal prosecutors' office, leading the inquiry, requested the forfeiture of $61 million from Binance, alleging the funds originated from Iranian oil black market sales and were laundered through the platform. Prosecutors are investigating whether Binance violated sanctions by failing to prevent certain transactions. Under the 2023 settlement, Binance admitted to violating banking regulations, paid $4.3 billion in fines, and accepted stricter compliance controls. If found in breach, Binance could face renewed criminal prosecution and additional penalties worth billions of dollars, Bloomberg reported.
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