Israel Takes Action Against 100 Binance Accounts Over Alleged Hamas Links: FT

In response to recent actions taken by Hamas on October 7, Israeli authorities have initiated a series of measures to disrupt the flow of funds to the Palestinian militant group. These measures include freezing more than 100 accounts on the world's largest cryptocurrency exchange, Binance. Additionally, authorities have requested information regarding approximately 200 other cryptocurrency accounts, with the majority of them being associated with Binance.

Since the recent escalation of conflict resulting from Hamas's actions in Israel, Israeli law enforcement has been working in conjunction with the general public and cryptocurrency companies to prevent financial support from reaching the group. It's important to note that Hamas is categorized as a terrorist organization by numerous jurisdictions worldwide, including the United States and the United Kingdom.

Binance has officially confirmed its collaboration with Israeli authorities in efforts to prevent the financing of terrorism. While they have acknowledged the blocking of a "limited number" of accounts, the precise figure has not been disclosed. The company has emphasized its commitment to adhering to internationally recognized sanctions rules and expressed its condolences for the events in the Middle East. Binance advocates for a prompt and peaceful resolution to the ongoing conflict.

According to an unnamed Binance employee cited in a report by the Financial Times, identifying Binance customers associated with addresses published by Hamas for soliciting donations has proven to be a challenge.

Additionally, Tether, a stablecoin issuer, announced on Monday that it has frozen funds in 32 cryptocurrency addresses linked to terrorism and conflict in Israel and Ukraine. They also mentioned their cooperation with Israel's National Bureau for Counter Terror Financing (NBCTF) in this endeavor.

Read more: Surging Activity Boosts Liquity Stablecoin Lender Token by 80% in a Month