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Home BUSINESS

Binance Takes Action: Freezes Hamas-Linked Accounts in Support of Israeli Efforts Amid Ongoing Conflict

BlockNews Team by BlockNews Team
October 10, 2023
in BUSINESS, POLITICS
Reading Time: 3 mins read
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  • Binance, a cryptocurrency exchange, has received a request from Israeli law enforcement to freeze accounts associated with Hamas militants.
  • Binance’s co-founder, Yi He, emphasizes the importance of cooperating with freeze requests due to Hamas’ designation as a terrorist organization.
  • It is crucial to differentiate between Hamas and the broader Palestinian population, as the freeze request is specifically targeted at Hamas-related accounts.

The cryptocurrency exchange Binance has received a request from Israeli law enforcement to freeze accounts associated with Hamas militants. Binance co-founder Yi He has addressed the matter, emphasizing the importance of cooperation with freeze requests due to Hamas’ designation as a terrorist organization. It is crucial to differentiate between Hamas and the general Palestinian population, whose accounts will not be affected.

Binance’s Response to Law Enforcement Request

Binance’s co-founder Yi He addresses the request from Israeli law enforcement to freeze Hamas-related accounts. He emphasizes the necessity for cooperation with such requests, given Hamas’ designation as a terrorist organization. Yi He clarifies that this decision is not within Binance’s sole discretion and underscores that the stance applies universally across trading platforms.

🚨 BREAKING: Binance freezes Hamas-linked accounts on request from Israeli authorities.

The action is part of an effort to halt war funding channeled through cryptocurrencies.

Co-founder Yi He underlines that Binance's move strictly targets the militant group, not Palestinians. pic.twitter.com/33pznqnKS5

— BlockNews.com (@blocknewsdotcom) October 10, 2023
Via @blocknewsdotcom – X

Differentiating Hamas and the Palestinian Population

Yi He highlights the distinction between Hamas, a militant group, and the general Palestinian population. He clarifies that the freeze request targets Hamas-related accounts and does not affect the accounts of the broader Palestinian community. This differentiation is essential to address the concerns surrounding Hamas’ violent activities and prevent the freezing of innocent individuals’ assets.

Support for Israeli Civilians Through Crypto Donations

In a separate development, the local Web3 community in Israel has launched a cryptocurrency-based initiative to support Israeli civilians. This initiative allows individuals to contribute Ether, Bitcoin, or the stablecoin Tether. The community-driven effort has already gathered over $50,000 in crypto donations, showcasing a proactive response to provide assistance to those in need.

Binance has received a request from Israeli law enforcement to freeze accounts associated with Hamas militants, highlighting the importance of cooperation with freeze requests due to their designation as a terrorist organization. It is crucial to differentiate between Hamas and the broader Palestinian population. Meanwhile, the local Web3 community in Israel has launched a crypto-based initiative, raising over $50,000 in donations to support Israeli civilians in need.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: BinanceHamasIsrael
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