"Binance Fights Back Against Terrorist Group Allegations!

[Coinpedia Fintech News]

Binance has refuted allegations made in a recent Reuters report that accused the cryptocurrency exchange of having ties to terrorist groups.

According to the report, Israeli officials seized nearly 190 Binance accounts since 2021, claiming they were linked to groups like Hamas and Daesh. In response, Binance emphasized its strong compliance measures for detecting and preventing cryptocurrency-based financing of terrorism.

The company acknowledged that once a digital asset transaction is verified on the blockchain, it cannot be reversed or blocked by exchanges. However, Binance highlighted its ability to detect and respond to suspicious deposits, which it considers a crucial aspect of compliance.