Binance Faces Allegations of Seizing Palestinian Crypto Funds at Israeli Request

Binance, the world's largest cryptocurrency exchange, is under scrutiny following allegations that it confiscated Palestinian crypto funds at the request of the Israeli Defense Forces (IDF).

Ray Yousef, co-founder of Paxful and CEO of P2P platform Noones, claims that Binance confiscated these funds after receiving a directive from Israeli authorities.

Yousef’s claims are based on multiple sources, including a letter he claims was handed to Binance by Israeli authorities.

He stated:

Binance has seized all funds from all Palestinians at the request of the [Israel Defense Forces (IDF)]. They refuse to return the funds. All appeals have been rejected.

Yousef also suggested that this action could potentially extend to other regions, such as Lebanon and Syria. However, Binance has dismissed these claims, stating that only a small number of accounts linked to illegal activities are affected.

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