Binance, via its lawyers, told a U.S. Senate investigation it found no evidence that accounts on its platform transacted directly with Iranian entities, refuting allegations that $1.7 billion in crypto flowed through the exchange to Iran-linked groups.

In a March 6 letter responding to inquiries from Sen. Richard Blumenthal’s (D-Conn.) Permanent Subcommittee on Investigations, the largest crypto exchange said an internal review found only indirect exposure to wallets that may have had links to Iran, and that accounts tied to the activity were removed.

Binance also attacked the media coverage that prompted the probe, calling reporting by outlets including the New York Times, Wall Street Journal and Fortune “demonstrably false” and…