Binance Theft Lawsuit Can Proceed In Federal Court, Appeals Panel Rules
Summary
An Eleventh Circuit panel let a Binance-related theft lawsuit continue in federal court and ordered the lower court to撤 vacate its arbitration ruling. The key holding: eight alleged victims never opened Binance accounts, so they were not bound by Binance’s Terms of Use or arbitration clause. The decision is procedural only; it does not decide liability or prove RICO, laundering, or other allegations. It means the plaintiffs may pursue claims in court rather than private arbitration. The ruling may matter for future crypto theft and tracing cases where non-users claim funds passed through major exchanges. The case now returns to federal court, where defendants can still seek dismissal and contest the claims on the merits.
