Binance is once again in the spotlight, but this time, it's a major controversy that is darkening its image even more. The crypto exchange is accused of having frozen funds belonging to Palestinian users, under the orders of the Israeli authorities. The details revealed by Ray Youssef, co-founder of Paxful, have ignited the powder keg, leading Binance to respond to these accusations.
Explosive Accusations: Binance, Israel, and Palestinian Funds
Binance, which rekindled speculation after a massive Dogecoin transfer, has once again made headlines. Indeed, recent events have sent shockwaves through the crypto universe. Ray Youssef, co-founder of Paxful and current CEO of Noones, made an explosive revelation : Binance Reportedly Freezes Funds of All Palestinian Users at the request of the Israeli army.
According to Youssef, this seizure would be justified by a letter signed by Paul Landes, a member of the Israeli National Bureau for Combating the Financing of Terrorism. This document, dated November 2023, refers to anti-terrorism laws to legitimize the confiscation of cryptocurrencies considered to belong to terrorist organizations.
For Youssef, this situation is not only alarming for Palestinian users, but could also constitute a worrying precedent for neighbouring countries like Lebanon and Syria.
Binance: Strong reaction and defense of crypto interests
Faced with harsh criticism, Binance was quick to respond. BNB crypto exchange denies accusations according to which it had frozen the funds of all Palestinian users.
According to Binance, Only a few accounts linked to illegal activities have been restricted.
The platform claims to scrupulously respect international sanctions and regulations in force. A spokesperson for the company said:
” We have always been committed to working with authorities to maintain a safe and compliant crypto market that complies with international laws. »
Binance therefore finds itself in a delicate positionjuggling between its desire to reassure users and the need to comply with regulations to avoid any closure of its activities.
Although Binance continues to face media storms, lighter news like the release of its former CEO from prison has brought some respite from the turmoil.
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