Overview
- Filed in U.S. District Court in North Dakota, the suit names Binance Holdings, founder Changpeng Zhao and executive Guangying Chen under the Anti‑Terrorism Act and its JASTA amendment.
- Plaintiffs allege the platform knowingly enabled transfers exceeding $1 billion for Hamas, Hezbollah, Palestinian Islamic Jihad and Iran’s Revolutionary Guard, including more than $50 million after Oct. 7, 2023.
- The complaint says Binance allowed designated customers to shift assets between internal accounts, undermining blocking and seizure orders and facilitating large‑scale laundering.
- Forensic tracing cited in the filing links activity to Gaza, Lebanon and Venezuela, with examples including a 26‑year‑old tied to a Brazilian livestock firm receiving about $177 million and access from Kindred, North Dakota IP addresses.
- The plaintiffs seek compensatory and treble damages, as Binance notes only that it complies with internationally recognized sanctions laws, following its 2023 $4.3 billion criminal settlement and Zhao’s October presidential pardon.