Binance and CZ Face New Lawsuit Over $400 Million in Alleged Terror Financing

A new lawsuit has been filed against Binance and its CEO, Changpeng Zhao (CZ), alleging that the cryptocurrency exchange facilitated more than $400 million in illicit transfers connected to terrorist organizations. The complaint claims that shortly before the October 7th attack by Hamas on Israel, Binance transferred $300 million to terror-linked accounts, followed by another $115 million after the attack. This comes just a year after Binance settled a $4.3 billion fine for sanctions and money laundering violations in 2023.