Crypto News- According to a recent report from the Financial Times, Israeli authorities have taken action to freeze more than 100 accounts on Binance, the world’s largest cryptocurrency exchange, following the October 7 attacks by Hamas. This move is aimed at cutting off funding channels to the Palestinian militant group. The report also mentions that authorities have sought information about an additional 200 cryptocurrency accounts, with the majority of them held on the Binance platform.
Israeli Binance Accounts Update: Israel Freezes 100 Binance Accounts
In response to the conflict initiated by Hamas’s actions in Israel, Israeli law enforcement has been collaborating with both the public and cryptocurrency companies to hinder financial support to the group. It’s important to note that Hamas is classified as a terrorist organization by several countries, including the United States and the United Kingdom.
Binance confirmed its cooperation with Israeli authorities to combat terror financing, acknowledging that they have “blocked” a “small number” of accounts on their platform but refrained from specifying the exact count. A Binance spokesperson expressed their sorrow over the events in the Middle East, emphasizing their adherence to internationally recognized sanctions rules and their commitment to blocking accounts associated with illicit funds.
The Financial Times report also includes comments from an unidentified Binance employee, who mentions the necessity to identify and investigate Binance customers who may have engaged with cryptocurrency addresses solicited by Hamas for donations.
In a related development, stablecoin issuer Tether disclosed that it had frozen assets in 32 cryptocurrency addresses linked to instances of terrorism and warfare in Israel and Ukraine. Tether is collaborating with Israel’s National Bureau for Counter Terror Financing (NBCTF) in this regard.
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