• 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

10 months 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.

Other news

DeFi Development Corp. Increases Its Investments in Solana to 640,585 Tokens

chest

DeFi Development Corp. has acquired 17,760 Solana tokens, increasing its total to 640,585. This is part of a strategy to diversify assets.

user avatarGiorgi Kostiuk

Seventeen Thousand Solana: DeFi Development Corp.'s Strategy in the Cryptocurrency Market

chest

DeFi Development Corp. purchases 17,760 Solana tokens for $2.72 million, increasing its holdings to 640,585 SOL.

user avatarGiorgi Kostiuk

U.S. Non-Farm Payroll Growth and Its Effect on Crypto Market

chest

In June, the U.S. labor market saw significant job increases, affecting the dollar's value and cryptocurrency markets.

user avatarGiorgi Kostiuk

Alipay+ Voyager: A New AI System for Travel by Ant International

chest

Ant International introduces Alipay+ Voyager, an AI service to optimize travel in China, Hong Kong, and the Philippines.

user avatarGiorgi Kostiuk

GENIUS Act and Its Potential Impact on the Financial World

chest

The GENIUS Act may undermine dollar dominance and reshape global payments, warns Europe's largest asset manager.

user avatarGiorgi Kostiuk

Crypto Week: US House Addresses Digital Asset Legislation

chest

The US House has designated July 14 as 'Crypto Week', with key discussions on stablecoin bills and crypto regulation anticipated.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

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.