Binance Holdings faces a lawsuit claiming the cryptocurrency platform ¡°knowingly facilitated¡± crypto transactions by Hamas before the group attacked Israel on Oct. 7, 2023, killing 1,200 people and taking 250 hostages.
More than 300 victims and family members of the Oct. 7 attack sued Binance, co-founder Changpeng Zhao, and top executive Guangying Chen under the Justice Against Sponsors of Terrorism Act provision of the Anti-Terrorism Act. They say Binance enabled more than $1 billion in transactions by Hamas, Hezbollah, and other entities designated as foreign terrorist organizations by the U.S.
¡°The lawsuit details how Binance knowingly facilitated hundreds of millions of dollars that helped those responsible for the atrocities of Oct. 7 attack,¡± Lee Wolosky, an attorney for the victims, said in a statement. ¡°When a company chooses profit over even the most basic counter-terrorism obligations, it must be held accountable ¡ª and it will be.¡±
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