Binance Takes Action on Hamas-Linked Accounts Following Israeli Intervention

Binance, a leading cryptocurrency exchange, has taken action to freeze accounts associated with Hamas militants, following a directive from Israeli authorities. The co-founder of Binance, Yi He, clarified in a WeChat post dated Oct. 10 that this decision specifically targets Hamas, which is recognized as a terrorist organization by the United Nations, and not the general Palestinian populace.

Yi He emphasized, “Hamas is not Palestine; the freeze is targeted towards Hamas, not Palestine.” She further elaborated that trading platforms are bound to comply with such requests, stating, “This is not something Binance can decide on its own.

This move by Binance comes after a local Israeli news source, Calcalist, reported that Israeli officials, in collaboration with Binance, had frozen the cryptocurrency accounts of Hamas militants. These accounts were allegedly being used to gather funds for warfare through social media platforms.

In related news, the Israeli Web3 community recently initiated a charitable drive named “Crypto Aid Israel” to assist Israeli civilians impacted by the ongoing regional tensions. This campaign accepts donations in various cryptocurrencies, including Bitcoin, Ether, and other ERC-20 tokens like Tether. Since its inception, the initiative has amassed close to $50,000 in crypto contributions.

Yi He reassured that regular users, including those from Palestine, will remain unaffected by this freeze. Drawing a parallel, she mentioned, “When war broke out before Russia and Ukraine, we did not freeze the accounts of ordinary Russians.

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