Binance Rejects Request to Freeze 86% of Palestinian Wallets Targeted by Israel

Binance, the world's largest cryptocurrency exchange, has rejected 86% of Israeli military requests to freeze crypto wallets linked to Palestinians and others due to a lack of sufficient evidence.

Nils Andersson Rød, global head of financial crime investigations at Binance, stressed that the platform conducts its own independent investigations rather than blindly following government orders to ensure compliance with international law while protecting users’ rights.

In a recent case involving over 1,500 wallet freeze requests from the Israeli Defense Forces (IDF), Binance found that only 220 wallets, or 14%, were linked to illegal activities. The remaining wallets were left intact, which prevented the accidental blocking of legitimate transactions.

Roed explained that Binance works closely with its legal department and law enforcement to make well-informed decisions. For example, the IDF may classify a wallet as related to terrorist financing, while Binance’s analysis may determine that it is linked to a charity. These discrepancies are resolved after thorough reviews.

Binance CEO Richard Teng also dismissed claims that the exchange froze all Palestinian wallets at the request of the IDF. He clarified that only wallets with clear links to illegal activities were affected, emphasizing Binance’s commitment to transparency and fair practices in politically sensitive regions.

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