Binance Rejects Israel’s Request to Freeze Wallets

Binance announced that it has rejected 86% of requests from the Israel Defense Forces (IDF) to freeze cryptocurrency wallets belonging to Palestinians and others. “We do not rely on a single source or tool,” said Nils Anderson Röed, the company’s global head of financial research.

FUD. Only a limited number of user accounts associated with illicit funds were blocked from trading. There are some incorrect statements about this.

As a global cryptocurrency exchange, we comply with internationally recognized anti-money laundering legislation, just like any other exchange…

— Richard Teng (@_RichardTeng) August 28, 2024

In late August, Binance CEO Richard Teng strongly denied the claim that all Palestinian customer wallets were frozen at the behest of the IDF. Teng subsequently asked the IDF to freeze more than 1,500 wallets associated with Palestinians, but Binance’s investigation found that only about 220 of them (14% of the total) were found to have illegal transactions and were in compliance with international law. "Legal" evidence, only those wallets are actually frozen.

Lord explained at the Messari Mainnet Conference in New York that if the IDF's requirements do not match Binance's findings, Binance's own open source information will be used for investigation.

Information source: Decrypto#非农人数大幅升温 #币安上线EIGEN #美SEC对Ripple案裁决提出上诉 #美联储11月降息预期升温 #币安上线CATI