Binance Faces Lawsuit From Hamas Hostage And Victims’ Families
- American mother and relatives of terrorist attack victims file lawsuit against Binance, alleging the exchange facilitated violence by allowing Hamas to trade on its platform. - Lawsuit follows regulatory and criminal investigations into Binance, which resulted in guilty plea for violating sanctions and anti-money laundering laws. - Binance facing criminal fine of $1.8 billion and forfeiting $2.5 billion, with former CEO awaiting sentencing. - Binance has not responded to the lawsuit, but plaintiffs' lawyer confident of substantial damages under US law, including the Anti-terrorism Act. - Binance admitted 1.1 million transactions, valued at $899 million, were conducted by individuals in Iran, violating US sanctions. - Despite guilty plea, Binance has enhanced compliance measures, including restructuring, system upgrades, and mandatory KYC requirements for all users. - Plaintiffs claim Binance's alleged support of Hamas facilitated financing of violent attacks and recruitment of individuals. - Seeking damages from Binance, Iran, and Syria as state sponsors of terrorism.
