Key Points

• The worth of assets on the 190 accounts was not disclosed
• Binance claims that bad actors don’t register with their names on Binance

Since cryptocurrency is now an integral part of the global financial system, terrorists have started using crypto as a means to illegally move money to finance their nefarious activities, thanks to Binance who has been cooperating with law enforcement agencies to unmask their activities.

Israeli Government Seizes 190 Binance Accounts Over Alleged Terrorism Link

To thwart the activities of terrorists globally, roughly 190 Binance Accounts have been seized by the Israeli Government for alleged links to terrorism, Reuters reports on Friday.

According to the document shared by Reuters, the accounts belong to two notorious terrorist groups namely; Islamic State (ISIS), and Hamas, and the seizure was necessary to thwart their activities and further interfere with their goals.

Thus far, information about the worth of the assets in all the accounts and how those accounts are linked to the said terrorist groups are yet to be unmasked.

Two of the accounts belong to one Osama Abuobayda, a Palestinian by ID, while others are owned by three Palestinian-based currency exchanges.

Binance Clears Doubts on Terrorism Link

Following the report by Reuters, Binance lashed out at Reuters reporters, alleging that the reporter in order to suit his narrative, ignored “critical facts”.

“Once again, the same reporter at Reuters is deliberately leaving out critical facts to fit their narrative. This time, they’ve raised questions about our compliance policies for preventing and tackling cryptocurrency-based financing of terrorism. This is a topic we take very seriously and want to use this opportunity to set the record straight,” Binance said in a blog post.

Binance’s response was actually necessary because the report has a notable effect on the image of the exchange, this is why Binance said it takes the topic seriously and affirms that it integrated sophisticated tools on its platform to detect addresses linked to illegal activities, hence, it doesn’t joke with its compliance program, claiming that it has over time been working with law enforcement agencies to counter terrorism and prevent money laundering through Binance.

To clear the air on the seized Binance accounts, Binance said the bad actors do not register their accounts under the names of any criminal organization, which is why it was difficult for the exchange to detect what purpose the accounts were created for.

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