According to a report by Decrypt on November 25, Deep Tide TechFlow news states that Binance is facing a new lawsuit, accusing the exchange of creating a system that allowed cryptocurrency transactions related to Hamas between 2017 and 2023.
The lawsuit was filed by over 300 American families who were killed or injured in the Hamas attacks in the federal court of North Dakota. The plaintiffs allege that Binance's corporate structure and compliance practices allowed users associated with terrorist organizations to transfer funds through the centralized Crypto Assets exchange.
The lawsuit claims that Binance lacks adequate control measures, with issues such as weak customer verification, a mixed asset comprehensive wallet, and internal communication practices that limit oversight. The plaintiff's attorney stated that Binance not only intentionally provided financial services to Hamas but also actively sought to protect its Hamas clients and their funds from scrutiny by U.S. regulators or law enforcement.
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