April 19, 2024
Israeli law enforcement freezes 100+ Binance accounts amid Hamas attacks.
Latest Cryptocurrency News

Israeli Law Enforcement Freezes Over 100 Binance Accounts Amid Hamas Funding Concerns

According to a report by the Financial Times, Israeli law enforcement has requested the freezing of over 100 accounts on Binance, the world’s largest cryptocurrency exchange, in response to the attacks by Hamas on October 7. This action is aimed at disrupting the funding of the Palestinian militant group. Additionally, authorities have sought information on around 200 crypto accounts, with a majority of them being associated with Binance, as indicated by insiders familiar with the situation.

Since Hamas initiated hostilities in Israel ten days ago, leading to a conflict and a blockade of the Gaza Strip, Israeli law enforcement has been collaborating with both the general public and cryptocurrency companies to prevent the flow of funds to the group. It’s worth noting that Hamas is classified as a terrorist organization by the United States, the United Kingdom, and numerous other jurisdictions worldwide. Binance had previously confirmed its cooperation with Israeli authorities in an effort to obstruct terror financing. The exchange disclosed that it had blocked a limited number of accounts on its platform but refrained from specifying the exact number.

The report also features an unnamed Binance employee who mentioned the necessity of identifying all Binance customers connected to the addresses that Hamas publishes for soliciting donations. On a separate note, Tether, a stablecoin issuer, declared that it had frozen assets located in 32 cryptocurrency addresses related to terrorism and conflict in Israel and Ukraine. Tether is actively working in conjunction with Israel’s National Bureau for Counter-Terror Financing (NBCTF) in this endeavor.

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