• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Accusations Against Binance Regarding Bitcoin Confiscation

user avatar

by Giorgi Kostiuk

a year ago


  1. The Essence of the Accusations
  2. Binance's Response
  3. Context and Consequences

  4. Cryptocurrency exchange Binance has come under scrutiny following accusations of confiscating bitcoins belonging to Palestinians at the request of the Israeli government. The accusations have raised concerns in the crypto community about the security of assets.

    The Essence of the Accusations

    Ray Youssef, one of the founders of the crypto platform Paxful and CEO of the Noones platform, claimed that Binance confiscated all assets belonging to Palestinians and refused to give them back despite multiple requests. Youssef warns that this might lead to more extensive asset confiscation in the region, underscoring the importance of personally managing one's assets in the crypto world.

    Binance's Response

    Binance refuted allegations of blocking all Palestinian funds, clarifying that only a limited number of accounts associated with unlawful activities were subject to restrictions. The corporation stressed its compliance with international sanctions rules and justified the restriction of the impacted accounts by citing their involvement in unlawful activities.

    These actions were carried out in accordance with worldwide legislation, and Binance expresses a commitment to peace in the area.Binance Spokesperson

    Context and Consequences

    This dispute arises during a difficult period for Binance, as it has encountered legal and regulatory examinations in multiple nations. In the United States, Binance faced a lawsuit earlier this year based on the U.S. Anti-Terrorism Act. The lawsuit claimed that Binance had allegedly offered significant support to terrorists. Notwithstanding the gravity of these accusations, Binance maintained that the number of impacted users was negligible and that its conduct was per international legislation.

    The situation with the accusations against Binance raises many questions about the security and management of crypto assets. It's essential to consider the risks and stay updated on developments.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Mutuum Finance Plans to Launch Sepolia Testnet by End of 2025

chest

Mutuum Finance plans to launch its Sepolia Testnet by the end of 2025, allowing early users to interact with the platform.

user avatarLeo van der Veen

Mutuum Finance Launches a Groundbreaking Dual Lending System.

chest

Mutuum Finance is set to accelerate platform adoption through its dual lending framework, offering unique benefits to users.

user avatarLi Weicheng

Crypto Fundraising Surges to Over $21 Billion in 2025

chest

In 2025, the crypto fundraising market has seen a remarkable increase of 150%, reaching over $21 billion, driven by institutional interest and regulatory clarity.

user avatarAisha Farooq

Significant Economic Indicators and Events to Watch for Cryptocurrency Investors

chest

A series of significant economic indicators and events are scheduled from December 1 to December 6 that may influence cryptocurrency markets.

user avatarTenzin Dorje

Rising Demand for XRP Spot ETFs and Its Impact on Market Liquidity

chest

The introduction of XRP spot ETFs has led to significant inflows, raising concerns about the liquidity of XRP on centralized exchanges.

user avatarBayarjavkhlan Ganbaatar

US Credit Card Debt Hits 1233 Trillion in Q3 2025

chest

US credit card debt has surged to 1233 trillion in Q3 2025, reflecting ongoing financial stress among consumers.

user avatarMohamed Farouk

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.