Israeli authorities seized just under 200 accounts on cryptocurrency exchange Binance over affiliations with the Palestinian Hamas and Islamic State. Binance responded to Reuters, which revealed the information, saying that the fight against money laundering and terrorism remains one of its priorities.
State of Israel seizes nearly 200 Binance accounts
According to recently released documents, Israeli counterterrorism authorities reportedly seized about 190 accounts on cryptocurrency exchange Binancea significant part of which is linked to Daesh or the Palestinian Hamas.
As shown in the screenshot below, Israel’s National Counter Terrorist Financing Bureau (NBCTF) has notably confiscated 2 Binance accounts on January 12 under the anti-terrorism law that governs the country.
As indicated, the approach aims to “ thwart Islamic State (ISIS) activity and impair its ability to pursue its objectives “.
Screenshot of the court document issued by the Israeli Defense Minister
However, these documents do not specify how much cryptocurrency is involved. and how different accounts are affiliated with ISIS or Hamas. Last year, a report from the US Treasury indicated that the Daesh group had received donations in cryptocurrency and that they had the possibility of exchanging them for cash through certain exchanges.
Asked by Reuters, Hassem Qazem, the Hamas spokesman, said Israel’s claims about the seized accounts were an attempt to “ justify its economic war against Gaza and its people “.
Recently, the military wing of Hamas said it would no longer receive Bitcoin (BTC) donations out of fear for the safety of its donors.
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Binance’s response
According to the Reuters article, which first published the information, Binance did not respond to requests for comment from the news agency before publication. However, the cryptocurrency exchange platform operated by Changpeng Zhao however issued a statement in response to the article after it was published.
Thus, according to the press release, Binance would have strict regulations regarding the risks relating to money laundering and the financing of terrorism, as well as a team of “specialists who have dedicated their entire careers to the fight against terrorism”.
Moreover, the platform ensures that it works closely with international authorities regarding this kind of business.
“Regarding the specific organizations mentioned in the article, it is important to clarify that bad actors do not register accounts in the name of their criminal enterprises. That’s why our team works with law enforcement and leverages information unique to law enforcement to identify individuals who maintain accounts for illicit organizations. »
Finally, Binance clarifies that the blockchain constitutes an unfavorable ground for money launderingtransactions can all be traced:
“The immutable and public nature of the blockchain makes cryptocurrency a poor choice for money laundering because it allows law enforcement to discover and trace money laundering much more easily than cash transactions. . It is simply impossible to transfer large sums of money into cryptocurrency without people noticing. »
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Published by Editions Larousse
Sources: Reuters, Binance
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Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make the blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
Maximilien Prue
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