Report: Iran Used Binance to Move Billions Despite Sanctions
The Wall Street Journal reported that Iran funneled billions of dollars through Binance to fund its military, circumventing international sanctions. The exchange allegedly facilitated transactions for Iranian entities despite U.S. restrictions.
The Wall Street Journal published a report alleging that Iran used the cryptocurrency exchange Binance to move billions of dollars, bypassing international sanctions. The funds were reportedly directed toward supporting the country's military activities. The report claims that Binance processed transactions for Iranian entities even after the U.S. Treasury imposed sanctions on Iran in 2018.
According to the Journal, Iranian companies and individuals used Binance to convert Iranian rials into cryptocurrencies, which were then transferred abroad. The exchange allegedly did not enforce know-your-customer (KYC) checks for these transactions, allowing the flow of funds to continue. The report cites internal Binance documents and former employees.
The U.S. Treasury's Office of Foreign Assets Control (OFAC) has strict prohibitions on providing financial services to Iran. Binance has previously stated that it complies with sanctions and blocks accounts from sanctioned countries. However, the Journal's investigation suggests that Binance's compliance measures were insufficient.
Binance responded to the report by stating that it has since strengthened its compliance protocols. The exchange said it has invested in advanced screening tools and increased its compliance team. Binance also noted that it has blocked accounts linked to Iran and other sanctioned jurisdictions.
The report comes amid increased scrutiny of cryptocurrency exchanges by regulators worldwide. Binance has faced legal challenges in multiple countries, including the U.S., where the Securities and Exchange Commission has filed a lawsuit against the exchange. The allegations regarding Iran could add to Binance's regulatory troubles.
Iran has faced severe economic sanctions from the U.S. and other nations, limiting its access to the global financial system. The country has turned to cryptocurrencies as a means to circumvent these restrictions. Iranian officials have acknowledged using digital assets to bypass sanctions.
The Wall Street Journal's findings are based on a review of financial records and interviews with former Binance employees. The report does not specify the exact amount of funds funneled through Binance but describes it as billions of dollars. Binance has not confirmed the figures.
As of now, Binance has not issued a detailed rebuttal to the Journal's report. The exchange reiterated its commitment to compliance and said it would continue to cooperate with regulators. The U.S. Treasury has not commented on the allegations.
Trump Mobile confirms customer data breach exposing phone numbers and addresses
Trump Mobile, the cell phone maker and provider associated with President Trump, confirmed a data breach that exposed customers' personal information, including phone numbers and home addresses. The company attributed the exposure to a third-party platform and is evaluating whether to notify affected customers.
Trump Mobile has confirmed that a data breach exposed customers' personal information, including phone numbers and home addresses. The company, which produces and provides cell phones branded with President Trump's name, said the incident was linked to a third-party platform. Trump Mobile is currently evaluating whether it needs to notify customers about the exposure.
The breach involved sensitive personal data, raising concerns about privacy and security for users of the Trump-branded devices. The company did not disclose the number of affected customers or the specific third-party platform involved. Trump Mobile stated that it is investigating the incident and working to prevent future occurrences.
This is not the first time Trump Mobile has faced security issues. The company has previously been criticized for its data handling practices. The latest breach underscores ongoing challenges in protecting customer information in the mobile phone industry.
Customers who may have been affected are advised to monitor their accounts for suspicious activity. Trump Mobile has not yet provided guidance on steps customers should take to protect themselves. The company said it will provide updates as the investigation progresses.
The breach comes at a time when data privacy is a major concern for consumers. Regulatory bodies may scrutinize Trump Mobile's response to the incident. The company could face legal repercussions if it failed to adequately protect customer data.
Trump Mobile has not specified a timeline for notifying customers or completing its investigation. The company emphasized its commitment to security and apologized for any inconvenience caused. It urged customers to remain vigilant.
As of now, no further details about the breach have been released. Trump Mobile said it will cooperate with authorities if necessary. The company's evaluation of whether to notify customers will depend on the findings of its investigation.
Apple blocked $2.2B in fraudulent transactions on App Store in 2025
Apple prevented over $2.2 billion in potentially fraudulent transactions on the App Store in 2025. The company also rejected more than 2 million problematic app submissions and blocked over 1.1 billion fraudulent account creations.
Apple released its annual fraud prevention analysis on Wednesday, detailing the company's efforts to maintain security and trust within the App Store ecosystem. The report covers the 2025 calendar year, highlighting the scale of fraudulent activity the company faced.
According to the report, Apple prevented over $2.2 billion in potentially fraudulent transactions. This figure includes blocked transactions from stolen credit cards, phishing schemes, and other deceptive practices targeting both users and developers.
The company rejected more than 2 million app submissions for various violations, including privacy concerns, misleading descriptions, and hidden functionality. Apple also terminated over 1.1 billion fraudulent account creations, many of which were automated bots designed to manipulate app rankings or commit fraud.
Apple's fraud prevention systems identified and blocked 3.5 million stolen credit cards from being used on the App Store. Additionally, the company deactivated over 1.5 million developer accounts for suspicious activity, preventing them from distributing apps.
The report noted that Apple's review process involves both automated systems and human reviewers. The company uses machine learning models to detect patterns of abuse, while human experts handle complex cases that require nuanced judgment.
Apple emphasized that these efforts protect both consumers and legitimate developers. By removing fraudulent apps and accounts, the company aims to maintain a safe environment for users and ensure fair competition among developers.
The company also highlighted its ongoing investments in security infrastructure. Apple continues to refine its detection algorithms and expand its review team to address emerging threats.
"Our commitment to protecting users and developers is unwavering," said an Apple spokesperson in the report. "We will continue to invest in advanced technologies and processes to stay ahead of bad actors."
The full fraud prevention analysis is available on Apple's website, providing detailed breakdowns of the types of fraud detected and the actions taken throughout 2025.
Kash Patel’s clothing brand website taken offline following hacking reports
The website for Kash Patel’s clothing brand was shut down after users reported it had been hacked. Hackers allegedly hijacked the site to trick visitors into installing malware.
The website for a clothing brand associated with Kash Patel, a former Trump administration official, was taken offline after reports emerged that it had been compromised. Users on X, formerly known as Twitter, flagged the site as potentially malicious, claiming hackers had gained control. The incident prompted the shutdown to prevent further harm to visitors.
According to multiple posts on the social media platform, the hacked website was being used to distribute malware. Visitors who accessed the site were reportedly redirected to pages that attempted to install malicious software on their devices. The exact nature of the malware and the extent of the compromise remain unclear.
Kash Patel, who served as chief of staff to the acting secretary of defense under President Donald Trump, launched the clothing brand earlier this year. The brand sells apparel and accessories, with some items featuring political slogans. Patel has not yet publicly commented on the hacking incident.
The website’s domain now displays a message indicating it is unavailable. It is unknown when the site will be restored or if it will be relaunched with additional security measures. Cybersecurity experts recommend that anyone who visited the site recently scan their devices for malware.
This incident adds to a growing list of high-profile websites being targeted by hackers for malicious purposes. The motive behind the attack on Patel’s brand has not been determined, but it appears to be a typical malware distribution scheme rather than a politically motivated hack.
Authorities have not announced any investigation into the breach. The website’s hosting provider likely took it down after being alerted to the compromise. Users are advised to avoid visiting the site until it is confirmed safe.
Patel’s team has not issued a statement regarding the timeline for restoring the website or whether customer data was affected. The brand’s social media accounts remain active but have not addressed the incident.
US Freezes $500M in Iranian Crypto Assets, Targets $7.7B Holdings
The United States has frozen $500 million in cryptocurrency assets linked to Iran and is targeting an additional $7.7 billion in digital currency holdings. The actions underscore the increasing use of crypto in sanctions enforcement and geopolitical strategies.
The United States government has announced the freezing of $500 million in cryptocurrency assets belonging to Iranian entities. The move is part of a broader effort to target an estimated $7.7 billion in digital currency holdings associated with Iran. These actions highlight the growing role of cryptocurrencies in international sanctions and geopolitical maneuvers.
The Treasury Department's Office of Foreign Assets Control (OFAC) identified the frozen assets as part of a crackdown on Iranian networks that use digital currencies to bypass traditional financial restrictions. Officials stated that the targeted cryptocurrencies were held in wallets linked to Iranian military and intelligence organizations.
This development marks one of the largest seizures of cryptocurrency assets by the US government. The $500 million freeze represents a fraction of the total $7.7 billion in Iranian crypto holdings that Washington aims to disrupt. The Treasury Department emphasized that these actions are intended to prevent Iran from using digital assets to fund illicit activities or evade sanctions.
The US has increasingly focused on cryptocurrency as a tool for sanctions enforcement. In recent years, OFAC has added several crypto addresses to its sanctions list, targeting entities in Iran, North Korea, and other countries. The agency has also pursued legal actions against individuals and exchanges facilitating crypto transactions for sanctioned entities.
Iran has turned to cryptocurrencies as a way to circumvent US sanctions, which have severely restricted its access to the global financial system. The country has legalized crypto mining and uses digital currencies for international trade. However, US officials argue that these activities undermine sanctions and pose a national security threat.
The $500 million freeze was executed through cooperation with international partners and crypto exchanges. The Treasury Department did not disclose the specific exchanges or jurisdictions involved but noted that the assets were identified through blockchain analysis and intelligence sharing.
This action is part of a broader US strategy to combat illicit finance in the crypto space. The Biden administration has proposed new regulations requiring crypto exchanges to report transactions involving unhosted wallets and has increased funding for enforcement agencies. Critics argue that these measures could stifle innovation, while supporters say they are necessary to prevent abuse.
The Treasury Department warned that it will continue to target Iranian crypto assets and urged the private sector to enhance compliance measures. The agency stated that it expects further actions against digital currency networks linked to Iran and other sanctioned countries.
As of now, the frozen assets remain under US control pending further legal proceedings. The Treasury Department indicated that the funds could be forfeited if they are determined to be connected to illicit activities. The $7.7 billion target represents the total estimated value of Iranian crypto holdings that the US seeks to disrupt through sanctions and enforcement actions.