Binance Holdings faces a lawsuit claiming the cryptocurrency platform “knowingly facilitated” crypto transactions by Hamas before the group attacked Israel on Oct. 7, 2023, killing 1,200 people and taking 250 hostages.
More than 300 victims and family members of the Oct. 7 attack sued Binance, co-founder Changpeng Zhao, and top executive Guangying Chen under the Justice Against Sponsors of Terrorism Act provision of the Anti-Terrorism Act. They say Binance enabled more than $1 billion in transactions by Hamas, Hezbollah, and other entities designated as foreign terrorist organizations by the U.S.
“The lawsuit details how Binance knowingly facilitated hundreds of millions of dollars that helped those responsible for the atrocities of Oct. 7 attack,” Lee Wolosky, an attorney for the victims, said in a statement. “When a company chooses profit over even the most basic counter-terrorism obligations, it must be held accountable — and it will be.”
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.