Binance, a major cryptocurrency trading platform, is facing significant scrutiny after being accused of deleting Palestinian accounts under orders from Israel.
The allegations, made by the CEO of financial communication app “Noones,” Ray Youssef, on August 26 stem from a purportedly leaked Israeli government document citing an administrative seizure order under the Anti-Terrorism Law.
The document claims that the seized funds were connected to organizations labeled as “terrorists.” Binance CEO Richard Teng responded to the public’s criticism on X, dismissing the reports as “FUD” (fear, uncertainty, and doubt).
“Only a limited number of user accounts, linked to illicit funds, were blocked from transacting,” Teng stated, clarifying that some statements about the situation were incorrect.
However, many Binance users expressed concerns over the “tremendous power” allegedly exercised by the Israeli government on the platform.
Youssef also claimed that Binance has been leaking information about MENA users to Israel’s IDF without their knowledge, providing screenshots and pictures as evidence.
The authenticity of these documents remains a topic of debate among netizens.