Binance sues WSJ, panicked by gov’t probes into sanctioned crypto transfers
Binance’s lawsuit accusing WSJ of defamation unlikely to stall government probes.
Binance is hoping that suing The Wall Street Journal for defamation might help shake off a fresh round of government probes into how the cryptocurrency exchange failed to detect $1.7 billion in transfers to a network that was funding Iran-backed terror groups.
The lawsuit comes after a Wall Street Journal investigation, based on conversations with insiders and reviews of internal documents, reported that Binance had quietly dismantled its own investigation into the unlawful transfers and then fired compliance staff who initially flagged them.
Alleging that the report falsely accused Binance of retaliation—among 10 other allegedly false claims—Binance accused the Journal of conducting a "sham" investigation that intentionally disregarded the company's statements. That included supposedly failing to note that Binance had not closed its investigation into the unlawful transfers.
This story was first published by Ars Technica. Read the original report