Victims of Palestinian Terrorists File Lawsuit Against Binance

A U.S. citizen taken hostage by Hamas and relatives of two men killed in an attack on Israel have filed a lawsuit against the cryptocurrency exchange Binance, according to Bloomberg. 

The plaintiffs allege that the company indirectly supported and sponsored violent actions by allowing terrorists to trade on its platform. 

The plaintiffs include Judith Raanan, who was freed along with her daughter on October 20, as well as relatives of the deceased Itay Glisko and Dr. Daniel Levi Ludmir. The case has been filed in a Manhattan federal court, with Iran and Syria also named as defendants.  

The victims’ lawyer stated that they are entitled to “substantial damages” under U.S. law, including provisions related to CFT.

“We have been working on this lawsuit for several weeks and believe that anyone who aids terrorism should be held accountable,” the lawyer emphasized. 

According to the lawsuit, Binance allegedly assisted Hamas in “financing brutal attacks and recruiting individuals” to carry them out. 

The document states that Iran became the group’s “main sponsor,” increasing the flow of funds and weapons supplies. Syria is described as one of the “cradles of Hamas terrorism,” also contributing to the attack on Israel on October 7. 

The plaintiffs seek compensation for damages from all listed defendants. 

According to media reports, since December 2021, Israeli authorities have blocked 189 accounts on Binance, allegedly linked to illegal groups.

Additionally, the Financial Times reported that since October 7, the cryptocurrency exchange Binance has closed more than 100 accounts linked to the financing of Palestinian terrorists at the request of authorities. 

In November 2023, as part of a deal with the U.S. Department of Justice, Binance agreed to pay fines totaling $4.3 billion amid an ongoing investigation into the exchange and its former CEO Changpeng Zhao.

The agreement includes charges against the platform’s head for money laundering, financial fraud, and sanctions violations. Zhao agreed to step down as CEO, admitting guilt to the violations charged by authorities. He is personally required to pay a $50 million fine.