Binance fired employees who found $1.7B in crypto was sent to Iran

Post by hn_acc1 » Mon, Feb 23, 2026, 10:38 PM UTC

bigstrat2003 wrote: post #92

paxys wrote: post #6

Isn't this like the #1 use case for crypto? Everyone wants an untrackable unblockable currency that is out of government control until the day it is used for things they don't like, then suddenly "government please control this!"

The #1 use case for crypto is that it's anonymous like cash. And yes, this enables people to use it for crime... just like they use cash . The unavoidable cost of freedom has always been that some people will misuse it. Personally, I would rather have freedom even if it gets misused than not have freedom even if it means crime is over.

Post by torginus » Mon, Feb 23, 2026, 10:44 PM UTC

MASNeo wrote: post #62

torginus wrote: post #32

Earlier quoted context omitted.

I know some pretty sharp folks who fork for various police departments chasing illicit crypto related activity. The amount of stuff they can track including timing of transactions, entry and exit points, etc, and so over a long period of time means that most of the traditional anyonmization methods like tumblers simply do not work. Eventually someone, somewhere makes a mistake and the transactions and wallets can be…

I am working to track and trace and time transactions and while this is possible when and if you know the identity of at least one participant it’s quite another thing when no identity is known at all. Criminals know that so it’s notoriously hard to pull off. Thanks to Daleware secrecy and lax Super PAC rules to disclose sources of funds it’s not going to get easier. So either your friends are genius saucers or they…

Post by VirusNewbie » Mon, Feb 23, 2026, 10:48 PM UTC

nine_k wrote: post #129

VirusNewbie wrote: post #102

Earlier quoted context omitted.

I mean, I can meet you in an ally, transfer some satoshis from my wallet to yours, you hand me a wad of cash/jewels/MtG/collector funkos and you might not even know my name.

Hmm, doesn't this work equally well with a wad of $10 and $20 notes? I mean, yes, notes could be clandestinely marked. But aren't bitcoins also traceable after the first transaction?

Post by mikkupikku » Mon, Feb 23, 2026, 10:50 PM UTC

EricDeb wrote: post #65

mikestew wrote: post #46

Earlier quoted context omitted.

Bear in mind that this guy pleaded guilty in a court case. In my mind that doesn't mean shit. Prosecution said, "if this goes to trial, we'll try to get life in prison. Or you could take our plea deal." That is why 90-some percent of prosecutions (EDIT: in the U. S.) go plea deal instead of trial.

I would imagine very rich people have extremely good lawyers though that can tell them very accurately if they will get off if it goes to trial.

Post by embedding-shape » Mon, Feb 23, 2026, 10:53 PM UTC

carshodev wrote: post #113

BenGosub wrote: post #90

Is Iran supposed supposed to be banned on Binance?

Every US company/citizen is not allowed to do trade with Iran due to the ITSR laws except under highly specific situations. It gets more complex if a company is multinational though. A citizen can travel to Iran but even if they buy something there on holiday if they bring it back to the US they need to go through complex customs procedures to make sure its legally brought back in.