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 firm’s global head of financial research.
FUD. Only a limited number of user accounts associated with illegal 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 that all Palestinian customers’ wallets were frozen at the behest of the IDF. Teng then asked the IDF to freeze more than 1,500 wallets related to 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 were actually frozen.
Lord explained at the Messari Mainnet Conference in New York that if the IDF’s requests do not match Binance’s findings, an investigation will be conducted using Binance’s own open-source information.
Source: Decrypto