The Israeli government has seized 190 Binance accounts linked to Islamic terror groups since 2021. Authorities say the accounts on the crypto exchange Binance belong to people linked to ISIS and Hamas.
Israel confiscates 190 Binance accounts allegedly linked to Terrorism
According to Reuters, Israeli authorities seized 190 Binance accounts. The accounts are allegedly linked to terrorist groups such as Hamas and Daesh since 2021. The report references never-before-published documents from the Israel National Counterterrorism Finance Bureau (NBCTF), the counterterrorism unit of the Israeli Ministry of Defense.
According to these documents, the NBCTF first made moves against terrorist groups in January. It seized two accounts linked to Daesh, a terrorist group based in Syria and Iraq. Other government records dating back to 2021 claim that more than 100 of the seized Binance accounts are linked to Hamas, an armed Palestinian group that frequently clashes with the Israel Defense Forces.
It also said on the NBCTF website that Israeli authorities seized funds to “thwart ISIS’s activities” and “weaken its ability to advance its goals.”
‘Binance allows cryptocurrency laundering’
Binance has faced criticism over its money laundering controls last year. Critics said it encouraged the leading exchange to break money laundering controls. It has been suggested that Binance has these permissive policies. According to Reuters, Binance has seized $10 billion in transactions since 2017 trying to circumvent US sanctions. These transactions were carried out by criminal organizations and other bad actors.
Binance says it complies with all regulators to ensure its platform is not accessible to terrorists and terrorist actors. He also said he was investigating whether an individual account really had clear ties to any criminal organization. Binance authorities add that it takes time to detect this.
Meanwhile, “the exchange has a 700-member compliance team that processes 1,300 law enforcement requests weekly,” Tigran Gambaryan, Binance Vice President of Global Intelligence and Research, said in an April interview. In its response to the Reuters report on Thursday, Binance noted:
Regarding the specific organizations mentioned in the article, it is important to clarify that bad actors do not register accounts under the names of criminal organizations. Our team collaborates with law enforcement and uses information only they can access to identify people who operate accounts for illegal organizations.
Not the first move
Other reports in December suggest that Israel has contacted Hamas-linked crypto wallets. Authorities also confiscated at least $33,500 and $750,000 in cryptocurrencies. Meanwhile, March’s CFTC lawsuit says Binance executives knowingly allowed Hamas-related transactions. cryptocoin.com We have included the main titles of the case in this article.
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