According to information published by Helen Partz, Binance in the spotlight for confiscating Palestinian cryptocurrencies, however, “Binance denied reports suggesting that the cryptocurrency exchange confiscated funds from all Palestinians, claiming that only a small number of accounts were restricted.”
The truth is, “The world's leading cryptocurrency exchange, Binance, confiscated cryptocurrencies from Palestinians at Israel's request, according to sources from a leading industry executive.
Ray Youssef, co-founder of peer-to-peer (P2P) cryptocurrency platform Paxful and CEO of the Noones P2P platform, took to X on August 26 to report that Binance confiscated funds from Palestinians at the request of the Israel Defense Forces (IDF).
For its part, “Binance has confiscated all funds of all Palestinians at the request of the IDF. They refuse to return the funds. All appeals denied, Youssef wrote, citing several sources, including a letter from Israeli authorities passed by Binance.”
Namely and according to Youssef's sources, Binance referred to a letter signed in November 2023 by Israel's National Office for Combating the Financing of Terrorism, Paul Landes, in response to Palestinian users appealing to restore the blocked funds.
SOURCES CONSULTED
Cointelegraph. Binance under scrutiny for seizing Palestinian crypto funds. Link
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