After facing severe backlash from the crypto community on the claims of freezing Palestinians account, the crypto exchange, Binance denied the allegation saying that only illicit user accounts were blocked from transacting.
In a tweet, Binance Co-Founder and Chief Customer Officer, Yi He, clarified that accounts linked to illicit funds were blocked from transacting. He added, “As a global crypto exchange we comply with internationally accepted Anti-Money laundering legislation, just like any other financial institution. We will continue to educate users on how to safely and securely transact on our platform.”
Only a limited number of user accounts, linked to illicit funds, were blocked from transacting.
As a global crypto exchange we comply with internationally accepted Anti-Money laundering legislation, just like any other financial institution. We will continue to educate users on…
— Yi He (@heyibinance) August 28, 2024
The co founder said that the blockchain is public for anyone to check the transfer records. Yi claimed that there are “hundred level of accounts involved in illegal capital inflows”. Lastly, she also emphasized on the crypto exchange’s hope for a ‘lasting peace’ throughout the region.
It was Ray Youssef, CEO & Chief Advocate at noonesapp, who had initially brought to light that Binance had “seized all funds from all Palestinians as per the request of the IDF” in a post on X. He further added that all appeals for funds were denied and the exchange has “refused to return the funds”.
Binance has seized all funds from all Palestinians as per the request of the IDF. They refuse to return the funds. All appeals denied.
Your funds are SAFU at @noonesapp tho.
In accordance with the authority delegated to me by the Minister of Defense, according to Section 61(a)… pic.twitter.com/RYlsFmlh2i
— Ray Youssef (@ray_noOnes) August 26, 2024
Youssef, however, claimed that users’ funds are Secure Asset Fund for Users at his P2P app, Noones App. In a series of tweet, Youssef went on to claim that major crypto exchanges including OKX might take a similar call, as Israel continues to pressure them into freezing Palestinian’s account, and “all Lebanese and Syrians will get the same treatment”.
Ok here is video proof from a Palestinian.
This is 100% confirmed. Israel is putting massive pressure on Binance and all other exchanges to blanket seize the funds of ALL Palestinians. The document in the original post has 500 names but there have been many such versions of it… pic.twitter.com/p3eoFOvgXR
— Ray Youssef (@ray_noOnes) August 27, 2024
Also Read: Binance Security Saves Millions from Crypto Fraud
