Binance Faces New Lawsuit Over Alleged Hamas Transactions
- A lawsuit filed in North Dakota accuses Binance of enabling crypto transactions linked to Hamas from 2017 to at least 2023.
- The suit involves over 300 families of Americans affected by attacks attributed to Hamas, claiming Binance’s practices obscured user activities.
- Plaintiffs argue that Binance’s pooled wallets and weak identity checks facilitated undetected fund transfers.
- Changpeng Zhao, Binance’s co-founder, is alleged to have directed actions that misled U.S. regulators about customer locations.
- In a related development, Binance settled with U.S. authorities for $4.3 billion over anti-money laundering violations in the same year.
The lawsuit highlights ongoing legal challenges for Binance, accusing it of facilitating transactions tied to groups designated as terrorist organizations by the U.S., including Hamas. The case underscores concerns regarding the exchange’s compliance and regulatory practices from its inception through recent years.
This legal action adds pressure on Binance as it faces scrutiny over its operational structure and control measures, following significant settlements with authorities earlier this year (Source).
