Binance, a major global cryptocurrency exchange, reportedly seized cryptocurrency from Palestinians at the request of Israel. Ray Youssef, CEO of Noones P2P platform and co-founder of Paxful, revealed this information on Aug. 26. According to Youssef, Binance confiscated funds from Palestinians based on a request from the Israel Defense Forces (IDF) and refused to return the funds despite appeals. The action impacted all Palestinians, with concerns that Lebanon and Syria may face similar treatment. Binance cited a letter from Israel's National Bureau for Counter Terror Financing as the basis for the seizure. The exchange stated that the restrictions affected only a small number of users engaged in illicit activities. Binance emphasized compliance with international sanctions legislation and expressed a desire for lasting peace in the region. The incident has raised questions about the impact on Binance's traffic from Palestine, which has seen a significant increase since August 2023. Read more AI-generated news on: https://app.chaingpt.org/news