ZoneBitcoin EditorialCryptocurrency giant Binance has been accused of seizing funds from Palestinian users at the request of the Israel Defense Forces (IDF).
Ray Youssef, CEO of the Peer-to-Peer platform Noons, made the accusation on the social network X, stating: “Binance seized all funds of all Palestinians at the request of the IDF. They refuse to return the funds. All appeals have been rejected.”
In response to the allegations, a Binance spokesperson said the allegations were inaccurate. He said that only a limited number of user accounts, linked to “illicit funds,” had been affected and blocked from making transactions. This was reportedly to limit transactions related to alleged terrorist activities. However, Binance did not provide details on the size or value of the “illicit” funds involved.
“As a global cryptocurrency exchange, we comply with international anti-money laundering laws just like any other financial institution,” Binance added.
This comes against the backdrop of the ongoing conflict in Gaza, where, according to local health authorities, more than 40 Palestinians have been killed and more than 500 others injured. The Israeli-led war, which has lasted for more than ten months, has left large areas of Gaza in ruins, under a severe blockade that limits access to food, clean water and medicine.
Israel is currently facing genocide charges at the International Court of Justice, which has ordered a halt to military operations in the southern town of Rafah, where more than a million Palestinians had sought refuge before the area was overrun on May 6.
Many Internet users are calling for a boycott of the platform (#Boycottfbinance) so that it can provide more explanations.
