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- August 27, 2024
- 9:15 pm
- Middle East
Following a request from the Israel Defense Forces, cryptocurrency exchange Binance has seized funds from Palestinian users, refusing to return the money and rejecting all appeals. Ray Youssef, CEO of P2P marketplace NoOnes, confirmed the information.
According to him, the arrest affected all clients of the exchange from Palestine, and the situation could be repeated with residents of Lebanon and Syria.
“Binance is handing over all MENA user data to the IDF without warrant or suspicion,” Incrypted reports.
The exchange said it had restricted access to some Palestinian accounts linked to illegal activity, Binance confirmed in a message to Cointelegraph. “Only a small number of users whose transactions were illegal had their accounts blocked,” Youssef added.
The date of the incident is not specified, but it is known that the exchange refuses to return money to users from Palestine on the orders of the Israeli army. This caused indignation and discontent among the exchange's clients. Ray Youssef emphasized that the situation could affect other countries in the region.
As a result of Binance's actions, Palestinian users have faced unpleasant consequences and are unable to get their funds back. There have already been accusations of violating user rights and transferring confidential data without permission.
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