⚠️ Palestinians🇵🇸 Accuse Binance of Freezing Their Crypto Assets

⚠️ Palestinians🇵🇸 Accuse Binance of Freezing Their Crypto Assets

There are claims that the exchange is confiscating funds from Palestinian users at the request of Israeli authorities. This situation raises concerns about the autonomy of cryptocurrency platforms and the privacy of their users.

➡️ Some cryptocurrency wallets, including those of Palestinian users, are reported to have received funds from an organization that Israel considers a terrorist group: Dubai Exchange Company. This entity, based in Gaza, was designated by Israeli authorities in 2022.

➡️ The freezing is described as “temporary seizure of assets belonging to a terrorist organization.” Binance has rejected the affected users' appeals based on this argument, and Israeli authorities have also not responded significantly to the complaints.

➡️ In October 2023, Israeli authorities froze cryptocurrency accounts allegedly used by HAMAS to raise funds. Reports suggest that Binance later helped to close these accounts. In April 2023, 190 Binance accounts were also seized, allegedly linked to HAMAS and ISIS.

This is an unfortunate situation for Palestinians, but perhaps not entirely surprising. Collaboration with regulators is increasingly common: In Hong Kong 🇭🇰 and Macao 🇲🇴, Binance has officially partnered with the police. Furthermore, in 2023, Tether froze 32 cryptocurrency addresses allegedly linked to terrorist activities in Israel 🇮🇱 and Ukraine 🇺🇦.🇺🇦.

#news #Asia #crypto

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