Hamas Attack Victims File Federal Lawsuit Against Binance And Founder

Victims of the October 7 attacks in Israel have filed a federal lawsuit against Binance and its founder Changpeng Zhao, alleging the platform facilitated large cryptocurrency flows to militant groups.

The complaint involves 306 American plaintiffs demanding damages for deaths, injuries, or hostage situations.
Claims suggest Binance moved over $1 billion for Hamas and other US-designated groups, including $50 million after the October 7 assault.
Unusual account activities are highlighted, including large transactions linked to suspicious accounts.

The lawsuit points to weak controls at Binance, allowing questionable transfers tied to groups like Hamas, Hezbollah, and Iran's Revolutionary Guard. It claims the platform bypassed standard financial checks.

Binance states compliance with international laws and denies ties to terrorist groups.
In 2023, Binance paid a $4.32 billion penalty for anti-money-laundering violations, which is referenced in the current complaint.

The new lawsuit, filed under a US anti-terrorism law, could triple any damages awarded, impacting Binance financially and reputationally. This case is separate from another ongoing case in Manhattan.

The plaintiffs argue that this lawsuit is essential for accountability after years of inadequate controls by Binance.