Binance seize assets of Palestinian users

[Gurujebs]

I never really was a Binance fanboy in the first place, barely use them this days because of regulations but boy I'm annoyed about their latest actions

Binance went ahead and seized assets of all Palestinian users they have under the orders of the IDF further encouraging the Genocide of the people of Gaza. Binance did release a claim that it was accounts linked with terrorism that were frozen but we ain't buying that crap. People have started a trend to boycott them and I really hope they lose users massively

I'm happy other CEXs haven't done the same stupid crap they did

Anytime something doesn't go the way a particular country or government want it, they go ahead and makes stupid move. I really wish there is a law that can help people fight for their right when such things happen. One useless government can't just sit in one corner and give instructions on what to do, the world doesn't revolve round around just  country, we all matters.

This is a warning to everyone who put centralized exchanges as priority for managing their coins and see them as the safe way to keep coins, this is just one of them the exchanges just displayed. If you don't want this to happen to you, avoid them as place to keep your coins.

[Cryptsafe]

i find it hard to believe too. Binance will not care where your coins come from as long as its link tagged, they will let those coins flow. if they would do this to Palestinians, it would likely be under the orders of the Palestinian government.

the exchange is not seizing anything from users. the company is bigger than a country. but if you want your funds to be safer, get it our of the centralized exchange like Binance. its always the most recommended thing to do.

I believe they acted in instructions and in accordance with the government of Palestine directives because I do not see any tangible reasons why binance would sieze peoples assets just like that. They are not bankrupt or owing any loan to have taken such drastic measures but however, there is every possibility that they were following the instructions of the Palestinian authority to doing so.
The best thing is just for users to always store their assets in their self custodial wallet to avoid situations such as this.

[0t3p0t]

This was what Binance CEO Richard Teng talked about it on X:

FUD. Only a limited number of user accounts, linked to illicit funds, were blocked from transacting. There have been some incorrect statements about this.

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.[/li][/list]

But I do not really care about what it is. People should have known by now that if it is not their keys it is not their coins. They can make use of noncustodial wallet and have their one private keys which give complete control over their own coins.

True. The governments can really control whatever they want whether we like it or not so yeah non-custodial wallets will make any sense on this but since don't know the truth then I think we leave it there since I am not a pro or anti here but I do hope they are doing great and will get the best action about things needed to be done in a proper way.

[erus]

Binance's CEO have released new announcement about hot issues recently about Binance seize assets of Palestinian users are fake news, Binance CEO confirmed never seize Palestinian assets in Binance and they are ability access to Binance and withdrawing their assets. I think its bad news and easily many top cryptocurrency news publishing with bad news without get permission or confirmation firstly from Binance CEO.
~snip~

This is good news, thank you for the confirmation because I am also sure that Binance will not arbitrarily block every user from various countries because it will definitely lower Binance's rating. I also have to be more careful in absorbing various news because there tends to be a lot of FUD that is not fair to the real situation.

[bitterguy28]

Binance did release a claim that it was accounts linked with terrorism that were frozen but we ain't buying that crap. People have started a trend to boycott them and I really hope they lose users massively

i doubt that it will happen because binance is one if if not the most popular and most used platform unfortunately i don’t think many would be so willing to boycott the platform

i do not really use exchanges to hold my money in fear of this exact situation but i am sure it is incredibly devastating to lose your money on top of losing your home and family

I'm happy other CEXs haven't done the same stupid crap they did

i wouldn’t be surprised if they follow binance to be honest

[target]

Binance's CEO have released new announcement about hot issues recently about Binance seize assets of Palestinian users are fake news, Binance CEO confirmed never seize Palestinian assets in Binance and they are ability access to Binance and withdrawing their assets. I think its bad news and easily many top cryptocurrency news publishing with bad news without get permission or confirmation firstly from Binance CEO.
~snip~

This is good news, thank you for the confirmation because I am also sure that Binance will not arbitrarily block every user from various countries because it will definitely lower Binance's rating. I also have to be more careful in absorbing various news because there tends to be a lot of FUD that is not fair to the real situation.

Competitors always wants to ruin the reputation of the top exchanges. Binance being the number 1 for a long time made the competition so hard for 2nd down to the 10th.

Sad to see crypto news site reposted the first information they get without verifying. I think they only want to be the first to publish not minding whether data is true.

[Cryptsafe]

Binance's CEO have released new announcement about hot issues recently about Binance seize assets of Palestinian users are fake news, Binance CEO confirmed never seize Palestinian assets in Binance and they are ability access to Binance and withdrawing their assets. I think its bad news and easily many top cryptocurrency news publishing with bad news without get permission or confirmation firstly from Binance CEO.
~snip~

This is good news, thank you for the confirmation because I am also sure that Binance will not arbitrarily block every user from various countries because it will definitely lower Binance's rating. I also have to be more careful in absorbing various news because there tends to be a lot of FUD that is not fair to the real situation.

Sad to see crypto news site reposted the first information they get without verifying. I think they only want to be the first to publish not minding whether data is true.

This is absolutely insane. I wonder if they really take out time to do an investigative journalism before they engage in their works before they make publication. These errors have caused many their reputation just because of the silly mistake of some so-called news vendors without proper research and findings. I think these news bloggers should begin give account of their publications because many things have happened as a result of their unverified information. For instance this case as mentioned by OP here, wasn't properly verified before they were quick to publish and here we see the CEO coming out to say another thing now which do we believe and who is to be held responsible for the information wrongly released to the public.

They always wants to be the first to share news feed but forgot to always do a proper verification before making such information public. They forget that information could make or mar reputations and when such happens, a whole damage must have been caused which would not be easy to regain. I think news site should be held accountable for news and information they disseminate to forestall further happenings of this nature in the future.

[erus]

Binance's CEO have released new announcement about hot issues recently about Binance seize assets of Palestinian users are fake news, Binance CEO confirmed never seize Palestinian assets in Binance and they are ability access to Binance and withdrawing their assets. I think its bad news and easily many top cryptocurrency news publishing with bad news without get permission or confirmation firstly from Binance CEO.
~snip~

This is good news, thank you for the confirmation because I am also sure that Binance will not arbitrarily block every user from various countries because it will definitely lower Binance's rating. I also have to be more careful in absorbing various news because there tends to be a lot of FUD that is not fair to the real situation.

Competitors always wants to ruin the reputation of the top exchanges. Binance being the number 1 for a long time made the competition so hard for 2nd down to the 10th.
~snip~

What do you mean about number 2 dropping to number 10? Is that about Binance exchange ranking?

Because I saw on Coinmarket the Exchange version for Binance is still in the number 1 ranking position, as I showed in the screenshot above. Or what do you think the second ranking is about?

[Bobcrypto]

I never really was a Binance fanboy in the first place, barely use them this days because of regulations but boy I'm annoyed about their latest actions

Binance went ahead and seized assets of all Palestinian users they have under the orders of the IDF further encouraging the Genocide of the people of Gaza. Binance did release a claim that it was accounts linked with terrorism that were frozen but we ain't buying that crap. People have started a trend to boycott them and I really hope they lose users massively

I'm happy other CEXs haven't done the same stupid crap they did

First, this post should be redirected to the news column of the forum to make it unique.
Now, the news has not being confirmed to be truth and there are users who has different view of the news about Binance seizure of Palestinians users assets. In my opinion, I think it is an unconfirmed news. As far as I know, Binance is doing every thing possible within it's power to avoid any link with terrorist accounts from different part of the world. Binance is maintaining a global standards in term of meeting up with established law or regulations everywhere they are doing business.

[koang]

Binance's CEO have released new announcement about hot issues recently about Binance seize assets of Palestinian users are fake news, Binance CEO confirmed never seize Palestinian assets in Binance and they are ability access to Binance and withdrawing their assets. I think its bad news and easily many top cryptocurrency news publishing with bad news without get permission or confirmation firstly from Binance CEO.
Its the way adopt by whales how to make many people get panic for selling their bitcoin and altcoin assets or moving from binance to any exchange market. Please for the next time stop publishing any news without check the information is true or not because many people got panic with fake news.

The story that was circulated was that all money had been taken from all  Palestinians.
To date, I have seen zero evidence to substantiate claims that Binance did anything outside of normal behavior for an exchange.
And maybe you are right, the whales are spreading bad news about Binance to manipulate the price
But it would be interesting to see what Binance would do if a country identified Israel as a terrorist and requested the same

[Cryptsafe]

As far as I know, Binance is doing every thing possible within it's power to avoid any link with terrorist accounts from different part of the world. Binance is maintaining a global standards in term of meeting up with established law or regulations everywhere they are doing business.

This is one of the utmost priority of crypto exchanges; to maintain global standard and a terrorism  free trade. However, I think binance is just trying to clear their name avoiding anything that would link them to trade involving terrorist on their platform and also following the government directives because if they fail to do so they might hit a brick wall falling out with the government and that would put the already established audience they have in that country at risk making them loose the customers which is not a good one for any business of that nature. On a normal obeying government directives is just what every organization would do as long as they find themselves within the jurisdiction of the government. So after much findings, I believe they did that just to make sure they are on the same side with government to avoid being tagged a terrorist supporting exchange which would affect their business.