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Israeli Authorities Seize 190 Binance Accounts with Alleged Ties to Terrorist Groups

Israeli authorities have seized 190 Binance accounts with ties to Islamic terrorist groups since 2021, as reported by Reuters on May 4. Out of these, two accounts were linked to the notorious Islamic State (ISIS), while the rest were allegedly owned by three companies associated with Hamas.

While Reuters was unable to determine the exact value of cryptocurrency seized from the accounts, Israel’s National Bureau for Counter Terror Financing (NBCTF) revealed in April that it had seized over $137,000 worth of cryptocurrency from 80 Binance accounts belonging to the same three firms.

According to the NBCTF, the accounts seized were the property of “terrorist organizations.” However, a representative for one of the companies, Al Mutahadun For Exchange, denied the allegations, stating that the firm does not deal with cryptocurrency and only works with fiat money.

This seizure of Binance accounts is part of Israel’s ongoing efforts to combat terrorist financing and money laundering. The country has been at the forefront of the fight against terrorist financing, having established the NBCTF in 2002 to combat such activities.

Binance, one of the world’s largest cryptocurrency exchanges, has faced a number of regulatory challenges in recent years. The exchange has been banned or restricted in several countries, including the United Kingdom, Japan, and Thailand. It has also faced scrutiny from regulators in the United States and Europe over concerns about its compliance with anti-money laundering and counter-terrorist financing regulations.

This latest incident is yet another reminder of the need for cryptocurrency exchanges to be vigilant in their compliance efforts and for governments to take strong action against those who seek to use cryptocurrencies for illicit purposes. As the use of cryptocurrencies continues to grow, it is likely that we will see more cases like this in the future.

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