Binance Under Fire for Suspicious Post-Settlement Transactions
Reports indicate that Binance, the world's largest crypto exchange, has failed to prevent suspicious accounts from moving significant capital even after its $4.368 billion settlement with U.S. authorities. Leaked data reveals that $144 million in high-volume transactions linked to questionable profiles bypassed security filters post-settlement.
The internal files highlight suspicious activities, including a Venezuelan user receiving over $177 million with numerous payment detail changes and the use of hundreds of bank accounts by a single profile. Some accounts showed impossible travel patterns and links to high-risk nations. Furthermore, these accounts received funds from wallets linked to terrorism financing.
Binance states it has robust systems to flag and investigate suspicious transactions. However, these allegations raise questions about the effectiveness of their compliance framework during the ongoing five-year monitorship, potentially leading to an additional $150 million penalty if remedial obligations are not met.
Cryptovka
Binance Face Scrutiny Over $144M in Post-Settlement Suspicious Flows
The world’s largest cryptocurrency exchange, Binance, is facing renewed scrutiny following reports that it failed to prevent suspicious accounts ...
