This revelation comes straight from Ray Youssef, who stated that the exchange refuses to return the funds. All appeals have been denied. Palestinians affected by this decision have found their accounts frozen with no way to access their crypto assets.
The seizure is reportedly tied to Israeli law—specifically, the Anti-Terrorism Law of 2016. The law gives Israel’s Minister of Defense broad powers to confiscate property deemed to be linked to terrorism. A seizure order, labeled T56/23, was signed on November 1, 2023, under this law.
The claim is that cryptocurrency wallets, including those owned by Palestinians, have received funds from a group designated as a terrorist organization by Israel. This group, the Dubai Exchange Company operating in Gaza, was flagged by Israel in 2022.
“I have received this from several sources. All Palestinians are affected and judging by the way things are going all Lebanese and Syrians will get the same treatment. Not your keys, not your coins. We are all Palestinians now.”
Don’t try to spin this as lawful. Does binance reside in Israel? If not, why would they need to help them with the genocide?
Binance doing shady shit? Par for the course.
This should be a lesson for everyone, but I doubt anyone will learn. The FTX collapse, various other exchange “collapses”/rug pulls.
if you leave your crypto in an exchange, it is not in your possession. You give your crypto to an exchange and they pRoMiSe it will always be there. And then the exchange takes them
If these funds were actually held in self custody wallets, this
wouldn’tcouldnt happen.Not your keys, not your crypto. If you do not have your wallet and keys on a device you control, then you don’t actually own crypto.
This is why I cashed out what little crypto I had for physical bullion (gold, silver) that I store at my own home.
Plenty of people laugh at me, but who’ll be laughing when we are all killing each other over a puddle of drinkable water or scraps of food?
Not me, either, but I might at least be able to barter for a few days before getting killed for it by some ragtag militia.
The most important aspect of crypto is that you only control it if you have the keys in a private wallet.
By putting it in an exchange all control of the crypto is lost.
@Linkerbaan@lemmy.world I just want to note that it’s just a sensationalist headline with no proof, and all other articles say something else
Binance has firmly denied the claim that it seized funds from all Palestinian users. The exchange states that only a few accounts were restricted, specifically those linked to illegal activities. Binance stressed its commitment to following international sanctions and regulations, asserting that the restrictions were in line with legal requirements.
But y’all don’t care.
Thank you for the notice I’ll delete this article for now until more facts come out
