Accounts related to Hamas have been frozen by Binance after Israeli request

Ordinary Palestinian citizens’ Binance accounts are unaffected by the freeze.

Israeli authorities asked Binance, a cryptocurrency exchange, to freeze the accounts of Hamas fighters, and the firm complied.

The exchange’s co-founder, Yi He, said in a WeChat post on October 10 that the freeze only affects Hamas and not the Palestinian people. According to He:

“The UN has classified Hamas as a foreign terrorist organization. This means that all businesses, not just banks and exchanges, must work together to honor freeze demands. Binance cannot unilaterally decide on this matter.”

Yi He continued by saying, “Palestine has an organized government,” which means no trading platform can deny such demands. Palestinian resistance movement Hamas. They are the issue because they murder innocent people. The freeze is not meant to affect the Palestinian people, but rather Hamas.

Earlier on October 10th, a local news site called Calcalist stated that Israeli agents had used Binance to freeze the crypto accounts of Hamas fighters. Investigators believe the accounts were used by terrorists to solicit online donations for military operations.

Cointelegraph reported the day before that members of the local Web3 community in Israel have begun a fundraising effort to aid Israeli people displaced by the fighting. The program, called “Crypto Aid Israel,” promotes digital currencies like Bitcoin. Nearly $50,000 worth of cryptocurrency has been donated to the cause since its introduction.

Yi He implied that the restriction would not impact regular users, especially Palestinian civilians. “We did not freeze the accounts of ordinary Russians when war broke out before Russia and Ukraine,” she said, referring to previous events.

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