"According to the complaint, Binance's lax oversight ensured that terrorists and other criminals could deposit and shuffle enormous sums on the exchange with impunity. The filing reads: Binance allowed those customers and accounts to shift the assets into other Binance accounts, thus negating the effect of any blocking' or seizing.' Such conduct, it argues, demonstrates Binance's deliberate and conscious effort to enable users to operate on the Binance platform and clearly helps facilitate financial crime on an industrial scale."
"Cryptocurrency giant Binance and its Trump-pardoned co-founder Changpeng Zhao are accused of knowingly helping to channel more than $1 billion to Hamas and other U.S.-designated terror groups in the years leading up to the October 7 attacks in a new explosive lawsuit filed on behalf of victims' families. The 284-page filing, submitted in federal court in North Dakota, claims the world's largest crypto exchange deliberately failed to monitor inbound funds tied to Hamas, Hezbollah, Palestinian Islamic Jihad, and Iran's Islamic Revolutionary Guard Corps."
A 284-page lawsuit filed in federal court in North Dakota alleges that Binance and Changpeng Zhao knowingly helped channel more than $1 billion to Hamas and other U.S.-designated terror groups before the October 7 attacks. The complaint asserts that Binance deliberately failed to monitor inbound funds tied to Hamas, Hezbollah, Palestinian Islamic Jihad, and Iran's Islamic Revolutionary Guard Corps and allowed customers to shift assets between accounts, undermining blocking or seizure efforts. The suit names 306 American plaintiffs, including families of dual Israeli-American victims, and identifies Zhao and associate Guangying Chen as defendants. Zhao pleaded guilty to money laundering in 2023, served four months, and was later pardoned by President Donald Trump. Binance said it cannot comment on ongoing litigation, asserted compliance with sanctions rules, and noted U.S. Treasury officials have said Hamas does not widely use cryptocurrency.
Read at www.mediaite.com
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