TechFlow news, November 25 — According to Decrypt, Binance is facing a new lawsuit alleging that the exchange's systems allowed cryptocurrency transactions linked to Hamas between 2017 and 2023.
The lawsuit was filed in North Dakota federal court by over 300 American families who lost loved ones or were injured in the Hamas attacks. The plaintiffs allege that Binance’s corporate structure and compliance practices enabled users associated with terrorist organizations to transfer funds through the centralized cryptocurrency exchange.
The complaint claims Binance lacked adequate controls, citing weak customer verification, pooled wallets for mixed assets, and internal communication practices that restricted oversight. Plaintiffs’ attorneys allege that Binance not only intentionally provided financial services to Hamas but also actively sought to shield its Hamas-linked customers and their funds from scrutiny by U.S. regulators or law enforcement agencies.
