Binance Faces US Probe of Possible Russian Sanctions Violations

The Justice Department is investigating whether Binance Holdings Ltd. was used illegally to let Russians skirt US sanctions and move money through the world’s biggest cryptocurrency exchange, according to people familiar with the matter.

The inquiry by the Justice Department’s national security division is looking at whether Binance or company officials ran afoul of sanctions related to Russia’s invasion of Ukraine, according to five people familiar with the matter who asked not to be named discussing a confidential investigation.

The probe, which hasn’t previously been reported, is moving on a parallel track with an existing inquiry by the criminal division, ...