Binance CEO denies statements about the blocking of accounts of all Palestinian users

What’s new? The new CEO of the largest centralized crypto exchange (CEX) Binance, Richard Teng, has called the news of mass blocking of user accounts artificially fueled panic. A day earlier, Ray Youssef, the head of the Noones App P2P marketplace, accused Binance of confiscating all funds from all Palestinian users at the request of the Israel Defense Forces (IDF) and allegedly refusing to return them, rejecting all appeals.

Source: X.com

What else is known? Teng did not name any names in his post and did not even directly specify which incident he was referring to. However, he emphasized that the ability to make transactions was disabled only for a limited number of accounts linked to illicit funds.

“As a global crypto exchange, we comply with internationally accepted anti-money laundering legislation, just like any other financial institution. We will continue to educate users on how to safely and securely transact on our platform. Most importantly, we hope for a lasting peace throughout the region.”

Ray Youssef attached a document to his post in which Israeli authorities allegedly dismissed complaints of asset seizure, citing anti-terrorism legislation. There, he also promoted his own platform, assuring users that their assets in the Noones App are safe.

Источник: X.com

Youssef also said that Binance founder and former CEO Changpeng Zhao, who is currently serving a 4-month prison sentence in the United States in a money laundering case, is innocent. According to Youssef, Zhao was sent to prison for refusing to implement mass blocking and user data transfer practices, but now Binance has discredited itself like other centralized exchanges.

Later, Youssef also claimed that Binance was handing over user data in the MENA region to the IDF without any legal justification and even allegedly receiving rewards for doing so. As proof, he attached a photo of a framed certificate of merit allegedly issued by the Israel National Cyber Unnit to Binance’s head of audit and investigations, Nils Andersen Roed, for his assistance in investigating cryptocurrency crimes.

Источник: X.com

Finally, Youssef called for a boycott of Binance and promised to soon provide evidence that the centralized crypto exchange OKX operates in a similar manner. In doing so, he again promoted his own platform, Noones App.

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The next day, Youssef launched a campaign under the hashtag #BoycottBinance, accusing the exchange of racism for shutting down its P2P service in African countries.

Источник: X.com

In March, Binance discontinued all services and shut down all services in Nigerian naira. This came after local authorities accused the exchange of collapsing the nation’s currency and money laundering, detaining its senior executives Tigran Gambaryan and Nadeem Anjarwalla upon arrival for talks. While the latter managed to escape, Gambaryan’s condition deteriorated greatly during his imprisonment, in connection with which the consideration of the lawsuit was moved from October to September 2.