Binance CEO Richard Teng Clarifies Exchange's Status in $61 Million Forfeiture Case

Binance CEO Richard Teng stated that the exchange is not a defendant in a US civil forfeiture case involving $61 million linked to sanctioned Iranian oil proceeds. US prosecutors allege that two companies, Blessed Trust and Hexa Whale, used Binance accounts to launder funds, some of which reportedly reached the IRGC. Teng emphasized that Binance has cooperated with law enforcement, maintains a zero-tolerance policy toward sanctions violations, and actively freezes accounts associated with illicit financial risks.