A US federal judge dismissed a terrorism lawsuit against Binance and CZ, citing a lack of evidence.
PANews reported on March 7 that, according to Reuters, U.S. Manhattan Federal Judge Jeannette Vargas dismissed a civil lawsuit seeking to hold Binance and its founder CZ accountable for accusing their trading activities of aiding terrorist organizations in carrying out global attacks. The judge ruled that the 535 plaintiffs (including victims and their families) failed to reasonably demonstrate that the defendants "intentionally colluded with, participated in, or ensured the success of terrorist attacks through their actions." The plaintiffs alleged that the attacks, occurring between 2017 and 2024, were carried out by external terrorist organizations such as Hamas, Hezbollah, the Iranian Revolutionary Guard, ISIS, Hezbollah al-Qaeda, the Palestinian Islamic Jihad, and al-Qaeda, and attempted to attribute hundreds of millions of dollars worth of cryptocurrency and transactions with Iranian users to Binance and CZ.
The judge noted that while Binance and CZ may have been aware of the potential terrorist financing role of the exchange, their relationship with terrorist organizations was limited to "their or their affiliates having accounts on Binance and trading in a fair manner." The judge also criticized the plaintiffs' 891-page, 3,189-paragraph complaint as "completely unnecessary" but allowed for amendments. A Binance spokesperson stated, "The court correctly dismissed these baseless allegations. Binance strictly adheres to compliance requirements and has zero tolerance for wrongdoing on its platform." CZ also claimed that the plaintiffs were attempting to obtain triple damages based on Binance's November 2023 admission of violating anti-money laundering and sanctions laws and paying a $4.32 billion penalty.
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