Category Archives: Binance
Hamas victims sue Binance over alleged ‘assistance’ to terrorists – Cointelegraph
Crypto exchange Binance, its former CEO Changpeng Zhao, along with the governments of Iran and Syria, have been named as defendants in a lawsuit filed by three families of victims affected by the Oct. 7 Hamas attack on Israel.
The plaintiffs, who include former hostages, family members of those affected and the estate of a doctor killed while treating casualties, are seeking damages under the United States Anti-Terrorism Act, claiming the defendants provided substantial assistance to terrorists.
The complaint was filed in New York Southern District Court on Jan. 31, stating:
The plaintiffs allege that Binance aided and abetted designated foreign terrorist organizations, providing material support to terrorists, providing material support to foreign terrorist organizations. They are seeking compensatory and punitive damages and reimbursement of costs.
The defendants also referred to Binances settlement with the United States Department of Justice in November, which included Anti-Money Laundering violations, stating:
Binance agreed to pay a $4.3 billion fine and submit to extensive monitoring by U.S. government agencies in the settlement. Following the Oct. 7 attack on Israel, the cryptocurrency exchange froze accounts associated with Hamas within days at the request of Israeli law enforcement.
Related: US, UK and Australia step up sanctions on Hamas-linked crypto facilitators
The government of Iran, meanwhile, has been accused of being a leading global sponsor of Hamas and international terrorism, including providing hundreds of millions of dollars in support to the group including military training, equipment, and expertise.
Syria has also been accused with similar allegations, and also include accusations it supplied Hamas a drug known as Captagon, "the sale of which is believed to be a financial source for terrorist groups and was used by Hamas terrorists to promote feelings of rage, irritability, and impatience" which encouraged them to "murder and torture" victims of the Oct. 7 terrorist attacks.
Calls for action on terrorism financing were heard in the U.S. Congress from both parties, with Binance being specifically named in some of them.
Cointelegraph reached out to Binancebut did not receive an immediate response.
Magazine: Terrorism and Israel-Gaza war weaponized to destroy crypto
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Hamas victims sue Binance over alleged 'assistance' to terrorists - Cointelegraph
Hacker Reportedly Breaches Law Enforcement Systems of Binance & Coinbase – Cryptonews
Last updated: February 5, 2024 03:23 EST | 1 min read
Recent cybersecurity breaches have targeted the law enforcement request systems of prominent tech giants including Google, Meta, and TikTok, and major crypto exchanges like Binance and Coinbase.
According to a report by InfoStealers, a notable rise in cybersecurity threats has led to hackers infiltrating the law enforcement request systems of leading tech and crypto companies. The perpetrator, known by the alias Tamagami, has reportedly accessed these systems for user data.
The hacker published ads to profit from their illegal access to user data on the cybercrime forum BreachForum, a platform that emerged as a replacement for RaidForums after it was closed and seized in 2022.
Hello BreachForums, Im selling a Facebook / Instagram (Meta) Law Enforcement Request System account. You can EDR any Facebook / Instagram / Oculus account and get your data within 8 hours, said the hacker.
Tamagami listed two options to monetize the account by offering one-time requests priced at $500 and complete access to the account at a price to be negotiated.
The hacker also published ads claiming that they have acquired access to Kodex Global, a law enforcement system that can request information from Binance, Coinbase, as well as LinkedIn, Discord, Tinder, and Chainlink. The access to Kodex was priced at $300 per request and $5,000 for the account.
Previously, Hudson Rock determined that cybercriminals frequently infiltrate law enforcement systems by leveraging credentials compromised through Infostealer malware infections, which usually belonged to officials who have inadvertently allowed their computers to be breached.
Hudson Rock suggested that the hacker probably accessed the systems using a set of compromised credentials. This assertion is supported by the threat actors history of posts on a cybercrime forum, highlighting their skill in exploiting a service purported to be legal, known as IntelX.
In December 2023, a similar incident occurred when a hacker named Miembro published a post on BreachForum to sell Binances Law Enforcement Request Panel for $10,000 Bitcoin.
Miembro revealed that the portal usually processes requests in a timeframe of three to seven days, providing users with the ability to make unlimited requests.
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Hacker Reportedly Breaches Law Enforcement Systems of Binance & Coinbase - Cryptonews
Binance Exchange Slapped With a Lawsuit in New York by Victims of October 7 Hamas Attack on Israel: Report – The Daily Hodl
The worlds largest crypto exchange platform by volume is reportedly being sued in New York by the victims of the October 7th Hamas attack on Israel.
According to a new report by ABC News, Binance is being sued by the families of the victims for allegedly providing the terrorist group with a funding mechanism.
The lawsuit, which was filed earlier this week by an American woman freed from Gaza and the families of two men killed during the October 7th attack, accuses Binance of processing numerous transactions for Hamas between 2017 and 2023.
According to a filing by the U.S. Department of Justice (DOJ), the crypto exchange failed to report transactions with cryptocurrency wallets that Binance senior executives had knowledge were linked to terrorist groups such as Hamas or Palestine Islamic Jihad.
Furthermore, the lawsuit alleges that Binance went out of its way to obfuscate the actions of Hamas to keep making profits from its transactions.
As stated in the lawsuit, according to ABC,
For years, Binance remained willfully blind to the use of its platform by illicit actors, including terrorists, by failing to do any due diligence on the vast majority of its users prior to August 2021.
Incredibly, Binance went out of its way to protect users associated with Hamas and other terrorist groups from regulatory scrutiny, especially if they were VIP users who generated huge profits for Binance.
Last year, Binance and its former chief executive, Changpeng Zhao, pleaded guilty to violating anti-money laundering laws and agreed to pay more than $4 billion in fines. Zhao ended up stepping down from his role as CEO.
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Binance and Hamas connection alleged in major financing lawsuit – crypto.news
Major cryptocurrency exchange Binance and its former CEO, Changpeng Zhao, are embroiled in a lawsuit filed by victims of the Oct. 7 Hamas attack on Israel.
The suit, lodged in the New York Southern District Court on Jan. 31, alleges that Binance processed transactions for Hamas in breach of the U.S. anti-terrorism act. Plaintiffs are seeking damages, accusing the defendants of providing substantial support to terrorist organizations.
The complaint points to Binances facilitation of clandestine financial transactions for Hamas, effectively bypassing U.S. regulatory scrutiny. This follows Binances settlement with the U.S. Department of Justice in November for anti-money laundering violations, including a hefty $4.3 billion fine and agreeing to comprehensive monitoring by U.S. authorities. In response to the attack, Binance swiftly froze Hamas-linked accounts at the request of Israeli law enforcement.
The lawsuit also implicates the governments of Iran and Syria. Iran, labeled a leading global sponsor of Hamas, is accused of providing extensive financial and military aid to the group. Syria faces allegations of supplying Captagon to Hamas, a drug purportedly enhancing aggressiveness, used by terrorists in the Oct. 7 attacks.
Judith Raanan, an American hostage in Gaza, and relatives of IDF soldier Itay Glisko and Dr. Daniel Levi Ludmir, victims of the attack, are spearheading the lawsuit. They contend that Binances transaction facilitation for Hamas contributed to the violence.
Binances legal woes include a guilty plea for violating sanctions and anti-money laundering laws, leading to a $1.8 billion fine. Robert Seiden, representing the plaintiffs, voiced confidence in securing substantial damages under U.S. law, citing weeks of preparatory work. He emphasized holding those aiding terrorism accountable.
The lawsuit is an example of the complexities of crypto misuse in terrorism. An Elliptic report, however, suggests Hamass crypto donations were overstated, totaling only $21,000 in October 2023. As such, this challenges narratives of widespread crypto-financed terrorism and underlines the importance of precise data in understanding cryptocurrencies roles in conflicts.
Meanwhile, U.S. lawmakers, including Senator Cynthia Lummis and Representative French Hill, have also expressed concerns regarding Binances alleged Hamas links. In their communication to the U.S. Secretary of Justice, they specifically highlighted the role of Binance and Tether in facilitating crypto transactions potentially linked to terrorism financing. This has led to intensified calls for stricter crypto regulations to prevent such misuse.
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Binance and Hamas connection alleged in major financing lawsuit - crypto.news
Investing in Binance (BNB) – Everything You Need to Know – Securities.io
Binance Coin (BNB) has firmly established itself in the world of digital assets, not just as the native cryptocurrency of the Binance ecosystem, but as a versatile asset that fuels a wide array of blockchain-based activities. Its journey from an ICO launch to becoming one of the top cryptocurrencies by market cap is a testament to its utility, innovation, and the strategic vision of the Binance platform.
Initially launched in 2017 via an Initial Coin Offering (ICO), Binance Coin was created as a utility token for the Binance cryptocurrency exchange. However, its purpose quickly expanded, making it an indispensable asset within the Binance ecosystem.
BNB facilitates various operations, such as paying for trading fees on the exchange, participating in token sales via the Binance Launchpad, and making in-store payments. The transition of BNB from the Ethereum blockchain to Binance's own Binance Smart Chain (BSC) marked a significant evolution, broadening its use cases beyond mere transactional utility to encompass smart contracts and decentralized applications (DApps).
The Binance Smart Chain stands out for its dual-chain architecture, designed to provide users with the best of both worlds: high transaction capacity and smart contract functionality.
BSC is not only compatible with Ethereum Virtual Machine (EVM) but also ensures high throughput, low transaction fees, and a supportive environment for DApps. This has made BSC a preferred platform for developers looking to deploy high-performance decentralized applications, particularly in the DeFi and NFT spaces.
The BSCs consensus mechanism, Proof of Staked Authority (PoSA), offers a balance between speed, security, and decentralization, facilitating a seamless user experience.
BNB's economic model is characterized by its limited supply and the periodic burning of coins. Binance uses a portion of its profits every quarter to buy back and burn BNB, reducing the total supply and aiming to increase scarcity and potential value over time. This deflationary mechanism is integral to BNB's value proposition, as it aligns the interests of Binance and BNB holders by potentially enhancing the coin's value as the Binance ecosystem grows.
Binance Smart Chain employs a unique consensus model known as Proof of Staked Authority (PoSA), which combines elements of Proof of Stake (PoS) and Delegated Proof of Stake (DPoS). This hybrid mechanism is designed to achieve high transaction throughput, maintain network security, and ensure a degree of decentralization. Below is a closer look at how PoSA works and its implications for BNB and the BSC network:
Governance in the Binance Smart Chain ecosystem is tightly integrated with its consensus mechanism, providing a structured way for the community to propose and vote on changes to the network. Governance plays a crucial role in the adaptability and evolution of the network, ensuring it can meet the changing needs of its users and the broader blockchain community. Key aspects of this include:
The consensus mechanism and governance model of Binance Coin and the Binance Smart Chain are foundational to their success and resilience. By balancing efficiency, security, and decentralization, BNB and BSC are well-positioned to support a wide range of applications and use cases, from decentralized finance (DeFi) to non-fungible tokens (NFTs) and beyond.
BNBs evolution from a utility token on a cryptocurrency exchange to a key player in the broader blockchain ecosystem reflects the dynamic nature of the digital asset industry. Its integration into the Binance Smart Chain has facilitated the development of a vibrant ecosystem of DApps, tokens, and services that leverage BNB's utility. This expansion has solidified BNB's position not just as a cryptocurrency but as a foundational element of the decentralized web.
Trading on Binance is easy. To begin, you will need to
If you plan on buying BNB tokens, you should do so from Binance to take advantage of the benefits BNB tokens provide.
Currently, Binance (BNB) is available on the following exchanges:
Binance Accepts Australia, Singapore, and most of the world. Canadian & USA residents are prohibited. Use Discount Code: EE59L0QP for 10% cashback on all trading fees.
Paybis A truly global company offering services to residents from 180+ countries, including Canada, Europe, UK, & USA.
KuCoin This exchange currently offers cryptocurrency trading of over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens. USA Residents are Prohibited.
Binance Coins utility within the Binance ecosystem, combined with its role in facilitating a new era of decentralized finance on the Binance Smart Chain, underscores its importance in the digital asset industry. Its deflationary economic model, strategic utility in transaction fee reductions, and use in governance through the BSC's consensus mechanism highlight BNB's multifaceted value. As the Binance ecosystem continues to expand and innovate, BNB's role within the digital asset economy is likely to grow, further entrenching its position as a versatile and valuable asset in the blockchain space.
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Investing in Binance (BNB) - Everything You Need to Know - Securities.io
Ethereum Whale Moves $46 Million in ETH Across Binance, Bitfinex and Aave: Details By U.Today – Investing.com
U.Today - In a surprising move that has captured the attention of the cryptocurrency community, an (ETH) whale has orchestrated a series of transactions involving major exchanges, moving a staggering $46.02 million in ETH over the past two days. The entity, utilizing a network of eight wallets, withdrew funds from Binance and Bitfinex before staking with Lido, a liquid staking solution.
Blockchain analytics platform Spot On Chain first brought attention to the substantial transactions through a tweet, revealing intricate details of the massive ETH movement. The whale withdrew the Ethereum holdings from crypto exchanges Binance and Bitfinex at an average price of approximately $2,419.
Subsequently, five wallets were employed to withdraw 50.15 million USDT from Aave, a prominent DeFi protocol, to the CEX trading platform, exchanging the stablecoin for 19,021 ETH, equivalent to the $46.02 million value. Spot On Chain further disclosed that three wallets still retained around 30 million USDT in Aave, sparking speculation that they might deposit these funds into a CEX soon, potentially acquiring more ETH.
Coinglass, another analytics platform, reported a significant amount of liquidations for ETH within the last 24 hours, totaling $53.78 million. Of this amount, $47.48 million resulted from long liquidations, while short liquidations accounted for $6.29 million. The liquidation data underscores the volatility and uncertainty prevalent on the market, with traders experiencing significant losses.
Market analysts and enthusiasts are closely monitoring these developments, as such large-scale transactions from influential entities often lead to speculation and conjecture regarding potential market impacts. Traders and investors are advised to exercise caution and stay vigilant as the cryptocurrency landscape continues to unfold, revealing the dynamics of this rapidly evolving market.
This article was originally published on U.Today
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Binance and SEC at odds; Pullix may flip Uniswap in trading volume – crypto.news
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
The current defi market is seeing increased scrutiny from the U.S. SEC, particularly concerning Binance (BNB).On the other hand, supporters claim Pullix (PLX) can surpass Uniswap (UNI) in trading volume.
A reportrevealsthat the SEC and Binance still have some unresolved issues.
The Binance legal team has followed all the document production requirements.
Despite this news, BNB is up from $292 to $306, pushing the market cap from $43.67 to $45.88 billion.
At the same time, 28 technical indicators show bullish signals.
Analysts predict BNB to reach $483 in Q1 2024.
Pullixoffers a unique hybrid trading platform that combines the best features of centralized and decentralized exchanges.
This means traders can enjoy deep liquidity, access to various asset classes (including cryptocurrencies), and more.
Pullix has already raised nearly $5 million in its presale and sold over 80 million PLX in under two months.
PLX is the native token of Pullix and can be used for trading credits. Holders receive lower trading fees and can access certain assets.
Pullix has a trade-to-earn revenue-sharing model rewarding PLX stakers with a percentage of its daily revenue.
As a result, the more trades that happen on Pullix, the more rewards stakers receive.
In the current presale stage, PLX is available for $0.10.
Uniswap Labs recently announced a new web update that eases token transfer.
Over the past week, UNI has increased from $5.80 to $6.18, and its market capitalization has also risen from $3.49 to $3.69 billion.
Some market experts say the token could reach $6.87 by the end of February 2024.
With a market cap of $20 million, some experts say Pullix can outperform Binance and Uniswap. In the ongoing PLX presale, participants can receive a 10% bonus.
Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
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Binance and SEC at odds; Pullix may flip Uniswap in trading volume - crypto.news
Hamas victims from the US sue Iran, Syria, Binance, and CZ – Protos
US citizens affected by Hamas attack on Israel have sued the Islamic Republic of Iran and the Syrian Arab Republic for sponsoring, funding, and arming the terrorist group, along with crypto exchange Binance and its founder Changpeng Zhao (CZ).
For years, Binance and CZ provided a funding mechanism for Hamas and other terrorists, a complaint filed on Wednesday claims, and concealed vital information about this from US regulators and the public.
The plaintiffs in the case are US citizens who were murdered, injured, or taken hostage by Hamas on October 7. The landmark filing says it represents all thirty Americans who were murdered in the attacks and the ten citizens who were taken hostage.
According to them, Binance processed numerous transactions associated with Hamas and related Palestinian terrorist groups between 2017 and mid-2023, providing a clandestine financing tool that Binance deliberately hid from US regulators.
The filing cited Binance and CZs guilty plea deal, reached in November with the Department of Justice (DoJ), as supporting evidence. The deal included the acknowledgement that Binance and CZ knowingly failed to implement safeguards against terrorism financing.
One month after the October 7 attacks, numerous members of Congress sent a letter to president Joe Biden and secretary of the treasury Janet Yellen that warned of Binances role in facilitating Hamas. It claimed that Hamas-linked wallets had received $41 million between August 2021 and June 2023, and that Palestinian Islamic Jihad-linked wallets had handled about $93 million during the same time period. Its worth noting that crypto research firm Chainalysis believes that these figures are inflated.
Read more: Binance named in Hamas warning letter signed by Congress
Iran has been accused by the plaintiffs of training and hosting many of the Hamas terrorists who participated in the October 7 attacks, along with being the leading global sponsor of Hamas and international terrorism.
The court filing further argued that Syria provided Hamas with financial, military, and logistical support and supplied the group with the drug Captagon. Alongside providing an extra source of revenue, the complaint claims that the drug fuelled the terrorists with rage, irritability, and impatience, which in turn encouraged them to murder and torture their victims.
At press time, Binance and CZ have not responded to reporters requests for comment. CZ is stuck in the United States as he awaits criminal sentencing, which is scheduled for February 23.
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Hamas victims from the US sue Iran, Syria, Binance, and CZ - Protos
Binance unveils Inscriptions Marketplace, targets BRC-20 and EVM tokens – Crypto Briefing
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Binance announced today the launch of its Inscriptions Marketplace, a platform dedicated to the trading and minting of a new breed of tokens, including BRC-20 and EVM tokens. This new platform, seamlessly integrated within the Binance Web3 Wallet, is set to support over 60,000 BRC-20 tokens and multiple blockchains via dApps.
In a blog post published today, Binance said that its Inscriptions Marketplace aims to offer a user-friendly interface that simplifies the trading and inscribing process, enabling users to manage their inscriptions on a single platform. Notably, Binance introduced BTC Transaction Accelerator, a new tool designed to speed up Bitcoin transactions, allowing for faster trades and inscriptions.
According to Binance, the marketplace is designed with accessibility and convenience in mind, catering to a diverse range of users, from BRC-20 enthusiasts to novices in the Web3 space. The platform ensures a secure and enjoyable experience, allowing users to move inscriptions between their Web3 Wallet and the Binance exchange easily.
Explaining the reasons behind the launch, Binance highlighted inscriptions unique benefits and potential. According to Binance, inscriptions extend the use of blockchains like Bitcoin beyond just being a digital store of value, adding more utility and value. Moreover, this new form of tokenization boosts on-chain activities, enhances network security, and enables transparent token deployment.
To further enhance its marketplaces capabilities, Binance announced its partnership with UniSat, an open-source wallet for Bitcoin NFTs. Binances Inscriptions Marketplace will use UniSats API to enhance users accessibility to deep liquidity and a broad offering of over 60,000 BRC-20 tokens.
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Binance unveils Inscriptions Marketplace, targets BRC-20 and EVM tokens - Crypto Briefing
Binance faces SEC lawsuit over alleged trading manipulation By Investing.com – Investing.com
WASHINGTON D.C. - In a pivotal court hearing today, Binance, the world's largest cryptocurrency exchange by trading volume, urged Judge Amy Berman Jackson to dismiss a lawsuit filed by the U.S. Securities and Exchange Commission (SEC). The SEC has accused Binance of several violations, including manipulating trading volumes, facilitating trades in what the SEC deems unregistered securities according to standards set by the Securities Act of 1933 and U.S Supreme Court precedents on investment contracts, and providing misleading information regarding its market surveillance protocols.
The allegations against Binance extend beyond the current lawsuit. The SEC has also accused the exchange of not implementing sufficient measures to prevent U.S. customers from accessing its services. These charges are part of a larger set of fraud claims the regulatory body has brought against Binance.
In a related case, Binance previously reached a settlement with the U.S. Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC), agreeing to pay $4.3 billion for various financial misconduct offenses. Furthermore, Changpeng Zhao, the CEO of Binance, acknowledged the company's failure to comply with anti-money laundering regulations.
As one of its remaining significant legal challenges in the U.S., Binance contests SEC's jurisdiction based on traditional flexible securities laws versus newer common enterprise frameworks amidst claims of market manipulation.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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Binance faces SEC lawsuit over alleged trading manipulation By Investing.com - Investing.com