**[WSJ: Iranian Sanctions Evasion Network Transfers $850 Million Through Binance]** BlockBeats News, October 10 — According to a report by WSJ, an unpublished internal investigation by Binance revealed that Iranian financier Babak Zanjani used affiliated companies, shell corporations, and multiple trading accounts to transfer funds via Binance, establishing a financial channel to help the Islamic Revolutionary Guard Corps (IRGC) evade Western sanctions. The network involved 21 individual and corporate trading accounts, with a total transaction volume of approximately $850 million, including at least $67 million flowing from two accounts into wallets linked to the IRGC. The report indicated that Tajik businessman Sukhrob Oimakhmadov, classified as a "high-value client" by Binance, received over $10 million through accounts, with sources including digital wallets later identified by Israel's Ministry of Defense as belonging to the IRGC. A crypto platform associated with Zanjani, Zedcex, had a cumulative transaction volume nearing $830 million, with approximately $56 million withdrawn to related wallets. The network also involved the Turkish payment company ZedPay and the use of cryptocurrency tokens such as USDZ for transactions. Binance stated that it had identified the activities and taken measures, restricting and gradually closing all accounts linked to sanctions violations. The company emphasized that the total transaction volume of the accounts does not equate to the actual funds transferred to the IRGC and acknowledged past issues with internal approval processes and execution timelines. The U.S. Treasury Department had previously imposed sanctions on Zanjani and related entities and individuals. [Original Link]