More than 300 American families have sued Binance, accusing it of providing trading services to Hamas.

According to Mars Finance, as reported by Decrypt, Binance is facing a new lawsuit accusing the exchange of creating a system that allowed cryptocurrency trading linked to Hamas between 2017 and 2023. The lawsuit was filed in federal court in North Dakota by more than 300 families of Americans killed or injured in Hamas attacks. The plaintiffs allege that Binance's corporate structure and compliance practices allowed users associated with terrorist organizations to transfer funds through the centralized cryptocurrency exchange. The lawsuit claims that Binance lacked adequate controls, had weak customer verification, integrated wallets for mixed assets, and internal communication practices that restricted oversight. The plaintiffs' lawyers stated that Binance not only knowingly provided financial services to Hamas but also actively sought to protect its Hamas customers and their funds from scrutiny by U.S. regulators or law enforcement.