A recent report by the Financial Times has revealed that Binance, the world’s largest cryptocurrency exchange, failed to stop the operation of 13 suspicious accounts following its 2023 settlement with US authorities. These accounts reportedly moved a total of 144 million dollars since November of last year, totaling 1.7 billion since 2021.The lack of effective controls in these companies has raised alarms among global financial regulators today. The failure to meet compliance regulations could lead to new and severe economic penalties for the digital platform.
The leaked data details unusual activities, such as the case of a 25-year-old Venezuelan woman whose account received 177 million dollars and changed its payment details 647 times in one year. Likewise, another account in Caracas was detected receiving 93 million dollars and showing geographically impossible access logs between Venezuela and Japan in less than twelve hours.
These patterns of irregular financial behavior are clear signs of potential money laundering activities in the sector. The oversight by North American authorities seeks to ensure that these security gaps are corrected immediately.
Furthermore, it was identified that these 13 accounts received 29 million dollars in USDT from wallets linked to terrorism financing. Many of these funds came from addresses associated with Tawfiq Al-Law, sanctioned by OFAC for links to extremist groups.
The transfer of illicit funds through digital assets remains a critical challenge for international security in 2025. Therefore, the effectiveness of the monitoring systems of the companies in the sector is under constant scrutiny. The commitment to operational transparency is vital to maintain the operating license in regulated markets.
Vulnerabilities in Binance’s compliance system after the 2023 judicial agreement
The relevance of this finding lies in the fact that Binance accepted a five-year monitorship by FinCEN as part of its 4.368 billion dollar settlement. The goal of this oversight is to ensure the exchange complies with its anti-money laundering obligations.
The persistence of accounts under suspicion suggests that the measures implemented so far might be insufficient or slow. In this way, the firm’s institutional reputation is once again compromised before the community of global investors.
Likewise, the report indicates that Binance defended its systems, claiming they have robust mechanisms to investigate suspicious transactions and restrict accounts when appropriate. However, the British newspaper’s report notes there are no direct indications that the exchange violated sanctions laws after official designations.
The corporate response to these serious accusations will be a determining factor in calming volatility in the BNB market. Therefore, the implementation of more advanced surveillance technology is an urgent priority for the current executive management.
Could Binance face an additional 150 million dollar fine for these control failures?
However, failure to comply with the terms of the 2023 agreement could trigger a suspended fine of an additional 150 million dollars. The designated monitors must report any negative findings directly to FinCEN, OFAC, and the CFTC on a periodic basis.
Regulatory pressure on exchange platforms shows no signs of decreasing in the short term. Therefore, the responsibility of large digital firms is to ensure their infrastructures are not used for criminal purposes. The legal future of the largest platform in the world depends on its capacity for internal reform.
Finally, the case highlights the complexity of overseeing global transactions that occur in seconds across national borders. The crypto ecosystem continues to evolve, and with it, the tactics used by malicious actors to evade traditional financial controls.
Consolidating a secure financial system requires total collaboration between private firms and the states. Thus, investors must stay tuned for the next compliance reports issued by the federal monitor. The integrity of the digital asset market is strengthened through accountability and justice.
