Binance ‘knowingly facilitated’ Hamas terrorist group, new lawsuit claims

Over 300 victims and family members of the October 7, 2023, attack on Israel have filed a federal lawsuit in North Dakota against Binance, co-founder Changpeng Zhao, and executive Guangying Chen. The complaint alleges that Binance "knowingly facilitated" illicit transactions for Hamas and other U.S.-designated Foreign Terrorist Organizations (FTOs) for years, enabling them to move hundreds of millions of dollars to support terrorist activities, which directly contributed to the October 7 attacks. The plaintiffs claim Binance intentionally structured its operations using offshore entities and weak verification to obscure fund tracing, continuing some practices even after Binance's 2023 settlement with U.S. authorities regarding AML and sanctions violations. Binance responded that it complies with international sanctions laws and noted that U.S. officials have stated cryptocurrency is not widely used by Hamas terrorists.

(Source：The Block)