Binance under scrutiny for seizing Palestinian crypto funds
#Binance seized cryptocurrency from Palestinians as per request from Israel, according to sources from a prominent industry executive.
Ray Youssef, co-founder of the peer-to-peer (P2P) crypto platform Paxful and CEO at Noones P2P platform, took to X on Aug. 26 to report that Binance confiscated funds from Palestinians upon the Israel Defense Forces (IDF).
“Binance has seized all funds from all Palestinians as per the request of the IDF. They refuse to return the funds. All appeals denied,” Youssef wrote, citing several sources, including a letter from Israel authorities passed by Binance.
He argued that the measure affected all Palestinians, predicting that other countries like Lebanon and Syria are likely to come next.
“All Palestinians are affected and judging by the way things are going all Lebanese and Syrians will get the same treatment. Not your keys, not your coins,” Youssef stated.