- Summary - Companies - $7.8 bln of trades were via Iran's biggest crypto exchange Nobitex - Revelations come amid U.S. Justice Department probe into Binance - Binance says is not a U.S. company, but has taken proactive steps to limit exposure to the Iranian marketplace LONDON, Nov 4 (Reuters) - Crypto giant Binance has processed Iranian transactions with a value of $8 billion since 2018 despite U.S. sanctions intended to cut Iran off from the global financial system, blockchain data show.Almost all the funds, some $7.8 billion, flowed between Binance and Iran's largest crypto exchange, Nobitex, according to a review of data from leading U.S. blockchain researcher Chainalysis.The exchange's billionaire founder, Changpeng Zhao, tweeted: "Binance banned Iranian users after sanctions, 7 got missed/found a workaround, they were banned later anyways."As a result of these efforts, including real-time transaction monitoring in coordination with external vendors, between June of 2021 and November of 2022, Binance's exposure to Iranian-linked entities has seen an exponential decline."Binance spokesperson Hillmann told Reuters in June, in relation to the exchange's indirect exposure to illicit funds, that "what's important to note is not where the funds come from - as crypto deposits cannot be blocked - but what we do after the funds are deposited.""