Binance, the cryptocurrency exchange, allowed approximately $1.7 billion in transactions through accounts flagged for suspicious activity, despite a $4.3 billion settlement with US authorities in 2023 aimed at improving compliance. An investigation by the Financial Times uncovered that accounts linked to potential terror financing and other red flags continued to operate after the plea agreement. One notable case involved a Venezuelan resident who moved $93 million through Binance, with funds tied to a network accused of transferring money for Iran and Hezbollah. The data analysis revealed that 13 accounts identified as suspicious handled $144 million in transactions after the settlement. One account, belonging to a 25-year-old Venezuelan woman, received over $177 million and changed its bank details an astonishing 647 times within 14 months. A former federal prosecutor remarked that such behavior indicates the account was likely functioning as a money-transmitting business. Concerns over Binance's operations were exacerbated by a physical impossibility in transaction patterns, with one account showing access from Caracas before logging in from Osaka just hours later. Many of these accounts received funds from wallets later frozen by Israeli authorities under anti-terrorism laws, linked to a Syrian financier sanctioned by the US Treasury. Binance maintains that it has strict compliance measures, though the environment for oversight has been complicated by political factors, including a pardon for Binance founder Changpeng Zhao by former President Trump. The Justice Department has since appointed monitors to oversee Binance’s compliance, but many suspect that the financial incentives involved render fines ineffective.