A U.S. federal court has dismissed the lawsuit that accused Binance of helping terrorist groups carry out attacks around the world.
The case was filed by victims and family members of people who were killed or injured in terrorist attacks. They argued that Binance helped terrorist organizations move money that supported the violence.
The lawsuit was heard in the United States District Court, and a total of 535 plaintiffs were involved in the case, representing about 64 victims involved in the terrorist attacks that took place between 2016 and July 2024. The attacks occurred in the United States, Israel, Kenya, Iraq, Syria, and Yemen.
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The plaintiffs claimed that a huge number of terrorist organizations were involved in these attacks. These groups included ISIS, Hezbollah, Hamas, al-Qaeda, Palestinian Islamic Jihad, and the Islamic Revolutionary Guard Corps of Iran. According to the lawsuit, these groups used the Binance exchange to move funds.
The case was filed against Binance Holdings Limited, its founder Changpeng Zhao, and BAM Trading Services, which operates Binance. US exchange. The plaintiffs argued that the companies should be held responsible because they allowed transactions connected to terrorists to occur on their platform.
The Court’s Decision on Binance
The court ruled that the lawsuit did not meet the legal standard required to hold Binance responsible for the attacks.
Source: storage.courtlistener
Under U.S. law, companies can sometimes be held responsible if they intentionally provide assistance to the terrorists. But the judge said the plaintiffs did not show that the crypto exchange intentionally helped the specific attacks that injured them.
The court also explained that providing general services used by millions of people is not enough to prove responsibility for terrorism. Even if criminals used the platform, the plaintiffs still needed to show a link between the exchbsge’s actions and the attacks.
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