Israel Withholds 190 Binance Accounts Linked With Terrorism

A document released by Israel’s counter-terrorism authorities shows it has withheld 190 accounts linked to terrorism from crypto’s largest exchange, Binance, since 2021. The document revealed that two of the seized accounts were connected to the Islamic State, and many others owned by Palestinian companies affiliated with the Islamist Hamas group.

The National Bureau for Counter-Terror Financing (NBCTF), a counter-terrorism arm of Israel’s Defense Ministry, has never released the documents containing these reports. Also, the documents did not specify the amount of money withheld from the accounts or how they connected to the aforementioned groups.

Israel Looks to End Terrorism Funding

After releasing the documents, the NBCTF stated on its website that the move was part of its objective to “thwart the activity” of the Islamic State and “impair its ability to further its goals.”

According to the documents released, NBCTF seized two accounts with an undisclosed amount of digital assets from two accounts allegedly linked to the terrorist group Daesh on January 12. Also revealed in the document, the counter-terrorism team seized over 100 Binance accounts tied to the Palestinian armed group Hamas.

The defense ministry didn’t need court orders to confiscate the accounts. Under Israeli law, the counter-terrorism arm can seize accounts it finds connected with terrorism and other illegal activities.

Reports Deliberately Leaving Out Critical Facts: Binance

Binance, in a blog post, has responded to Reuters, who were the first news reporters, stating that the outlet left out certain critical facts in the report. The exchange noted that it takes anti-money laundering seriously and boasts of one of the most robust compliance schemes.

“With regards to the specific organizations mentioned in the article, it’s important to clarify that bad actors don’t register accounts under the names of their criminal enterprises. This is why our team collaborates with law enforcement and leverages information that is only available to them in order to identify individuals opening accounts for illicit organizations,” Binance stated.