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Binance founder sued over suspected Hamas connection
Cryptocurrency giant Binance, founded by billionaire Changpeng Zhao, is currently entangled in a federal lawsuit filed by victims of the terrorist group Hamas, alleging the facilitation of violence through the platform.
The lawsuit, initiated by Judith Raanan, an American mother who experienced captivity by Hamas in Gaza, and the families of attack victims, targets not only Binance but also names Iran and Syria as defendants.
According to Bloomberg’s initial report, the central claim revolves around the accusation that Binance allowed Hamas to conduct trades on its platform, contributing to the financing of violent attacks and the recruitment of individuals for these attacks.
Plaintiffs, represented by lawyer Robert Seiden, express confidence in the victims’ entitlement to substantial damages under US law, including the anti-terrorism act.
The lawsuit draws attention to the government’s claims in the Binance case, asserting that Bitcoin transactions were utilized by Hamas’s military wing to raise funds for the Palestinian resistance.
Allegedly, over 1.1 million transactions, valued at $899 million, were conducted in violation of US sanctions.
In addition to holding Binance accountable, the complaint accuses Iran of being the principal supporter of Hamas terrorism, consistently providing significant funding for weapons and terrorist operations.
Syria, identified as a “cradle of Hamas terrorism,” is accused of contributing to the group’s military arsenal leading up to the specified attack.
The plaintiffs seek damages against Iran and Syria as state sponsors of terrorism, holding Binance responsible for aiding and abetting a terrorist organization.
Notably, this legal development follows a regulatory and criminal investigation into Binance last year, resulting in a $4.3 billion settlement with U.S. regulators and a change in leadership.
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