Binance Denies Seizing Palestinian Funds on Israel’s request
Binance Trade has denied claims that it seized Palestinian funds on the request of the Israeli Defence Forces (IDF).
In August, the IDF requested Binance to freeze over 1,500 wallets belonging to Palestinians. The corporate did its investigation and flagged 220 wallets after confirming that they had been linked to illicit actions.
Many within the crypto area criticized Binance for this motion, claiming the change indiscriminately froze the funds. Nonetheless, the top of the monetary crime investigation, Nils Anderson Röed, famous that the 220 wallets had been the one wallets blocked. “Solely these wallets had been blocked,” Röed confirmed.
In response to Röed, the corporate doesn’t comply with out query and solely takes essential motion after conducting its personal investigation.
“We don’t simply depend on one single supply or one single software” he acknowledged in a current interview. Röed additionally mentioned the Binance itself takes time to confirm every case earlier than contemplating blocking accounts
CEO Richard Teng additionally addressed the accusations, clarifying that they aren’t true. He confirmed that the change solely restricts accounts which can be tied to illicit actions.
The accusation began on Aug. 26 when Ray Youssef the co-founder of the peer-to-peer (P2P) crypto platform Paxful made a tweet claiming that Binance seized all Palestinian crypto funds at Israel’s request.
He cited a letter from all Palestinian crypto funds at Israel’s request, referencing legal guidelines that permit property linked to terrorism to be confiscated.
Binance obtained quite a lot of backlash over the declare, which resulted in a debate about centralized exchanges and the ability they maintain.
Regardless of this, Binance maintains it follows a cautious and methodical strategy, balancing its authorized obligation with defending customers.
“We seek the advice of with our legal professionals and related authorities to ensure we act in compliance with worldwide legislation,” Röed mentioned
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