Binance, the world's largest cryptocurrency exchange has recently responded to Reuters report alleging that 190 crypto accounts have been seized by the Israeli authorities. The media outlet assumed that some of them were connected to terrorist groups like Hamas and Islamic State. Binance fired back at the news agency, claiming that they are “deliberately leaving out critical facts to fit their narrative.”

The exchange maintained that their anti-money laundering and preventing terrorist activities remain a key focus, therefore they have a robust compliance program incorporating sophisticated anti-money laundering and global sanctions. They also clarified that they are not ignoring any sign of wrongdoers and take the necessary action to freeze their accounts when discovered.

Even though the media outlet had reported that some of the 190 accounts belonged to a 28-year-old Palestinian, Osama Abuobayada, Binance claimed that terrorist groups usually don’t register accounts on their real names. However blockchain technology is of great help to authorities and allows them to track any transactions done under criminal groups - which is why they seized $2 million in crypto in 2020.

Hamas, al-Qaeda and Islamic State have been trying to use digital currencies to raise funds and they have obtained most of their donations from Muslim countries in support of their war against Israel. Considering Mohammad Abu Jayyab’s thoughts, it’s suspected that either terrorist organizations have found more advanced financing options or moved back to traditional methods.

In response to the news, Hamas has reportedly decided to stop accepting donations in BTC to protect the donors. Overall, even if there is no sufficient evidence to prove that the confiscation of 190 crypto accounts had any real impact in terrorist activities, Binance has assured through its reply that it remains vigilant when it comes to illegal activity on its platform.



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