Binance Faces Lawsuit Alleging Role in Facilitating Hamas Financing
Binance has filed a motion to dismiss a lawsuit accusing it of aiding Hamas during the 2023 attacks on Israel.
The case was brought by Judith Raanan, a survivor of the hostage situation, who claims the exchange helped facilitate terrorism through its platform.
During the January 30 hearing, Binance’s legal team argued there was no direct link between the company and Hamas. They denied the accusations of aiding the group, emphasizing that there was no special relationship between the two. The lawsuit accuses Binance and its former CEO, Changpeng Zhao (CZ), of neglecting their responsibility to prevent money laundering and failing to report suspicious activities, allowing Hamas to use their platform for transactions.
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Binance’s defense suggested that crypto is not inherently dangerous and denied that CZ had admitted to assisting terrorism. However, Judge John G. Koeltl expressed doubt over the defense, pointing out that secondary liability for aiding terrorism is difficult to dismiss. He noted the severity of the allegation that Binance may have treated terrorist accounts as ordinary users.
The plaintiffs claim that Binance was made aware of Hamas’s activities on the platform and did nothing to stop it. The judge has yet to decide whether to dismiss the case.
In addition to this case, Binance is facing other legal challenges, including investigations in Spain and France over allegations of financial misconduct and money laundering.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
