Binance denied reports suggesting that the crypto exchange seized funds from all Palestinians, stating that only a small number of accounts was restricted.
Major global cryptocurrency exchange Binance seized cryptocurrency from Palestinians as per request from Israel, according to sources from a prominent industry executive.
Ray Youssef, co-founder of the peer-to-peer (P2P) crypto platform Paxful and CEO at Noones P2P platform, took to X on Aug. 26 to report that Binance confiscated funds from Palestinians upon the Israel Defense Forces (IDF).
“Binance has seized all funds from all Palestinians as per the request of the IDF. They refuse to return the funds. All appeals denied,” Youssef wrote, citing several sources, including a letter from Israel authorities passed by Binance.
