Israel Seizes 189 Binance Crypto Accounts Linked to Terror Groups Since 2021

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Israel has seized around 190 crypto accounts at crypto exchange Binance since 2021, including two it said were linked to Islamic State and dozens of others it said were owned by Palestinian firms connected to the Islamist Hamas group, documents released by the country's counter-terror authorities show.

Israel's National Bureau for Counter Terror Financing (NBCTF) on January 12 confiscated two Binance accounts and their contents, one of the documents on the NBCTF's website showed. The seizure was to "thwart the activity" of Islamic State and "impair its ability to further its goals," the NBCTF said on its website.

The NBCTF document, which has not been previously reported, did not give any details on the value of the crypto seized, nor how the accounts were connected to the Islamic State.

Under Israeli law, the country's defence minister can order the seizure and confiscation of assets that the ministry deems related to terrorism.

Regulators globally have long called for tighter controls on crypto exchanges to prevent illegal activities, from money laundering to the financing of terrorism.

Binance, founded in 2017 by CEO Changpeng Zhao, says on its website it reviews information requests from governments and law enforcement agencies on a case-by-case basis, disclosing information as legally required.

Binance has also said it checks users for connections to terrorism and has "continued to invest tremendous resources to enhance its compliance program," it told U.S. senators in March in response to their requests for information on Binance's regulatory compliance and finances.

(Source: Reuters)