Overview
- Filed in U.S. District Court in North Dakota, the 284-page suit by 306 American victims and families targets Binance, founder Changpeng Zhao, and executive Guangying Chen.
- Plaintiffs allege the exchange knowingly enabled Hamas, Hezbollah, Palestinian Islamic Jihad, and Iran’s Revolutionary Guard to move over $1 billion, including more than $50 million after Oct. 7.
- The filing cites blockchain forensics and compliance lapses such as pooled wallets, weak identity checks, and asset shifting that allegedly negated blocking or seizure orders.
- Specific traces include a Venezuelan-linked account with about $177 million in deposits and more than $130 million in withdrawals, Gaza exchange ties, and IP activity from Kindred, North Dakota.
- The case seeks compensatory and treble damages and joins other pending suits, as Binance notes it complies with internationally recognized sanctions laws following its 2023 $4.3 billion plea and Zhao’s October pardon by President Donald Trump.