Trump Pardons CZ—Now Binance Faces $1 Billion Terror Allegations
Binance faces a $1 billion federal lawsuit from October 7 attack victims alleging the exchange enabled terrorist financing for groups like Hamas.Summary
Binance, its founder Changpeng Zhao (CZ), and executive Gunagying “Heina” Chen are named in a $1 billion federal civil lawsuit filed in North Dakota by 306 victims and families of the October 7, 2023, Hamas attack. The plaintiffs allege Binance intentionally acted as a vehicle for money laundering, enabling funding for Hamas, Hezbollah, Palestinian Islamic Jihad, and Iran’s Islamic Revolutionary Guard Corps through limited compliance checks and off-chain transfers. The lawsuit cites examples of terror affiliates using the exchange and seeks compensatory and treble damages. This legal action follows President Trump's pardon of CZ, which voided his four-month prison sentence for failing to maintain an anti-money laundering program, sparking debate and a Senate resolution condemning the pardon. Binance maintains it complies with sanctions, but the lawsuit could set a precedent for exchange liability in terrorist financing cases.
(Source：BeInCrypto)