<p>Binance caught in a vise: an internal data breach of extremely sensitive information, as well as a lawsuit accusing it of complicity with a terrorist organization. A double crisis with potentially serious consequences.</p>
<h2 id="h-a-compromising-data-leak">A Compromising Data Leak</h2>
<p>Binance, <a href="https://www.cointribune.com/binance-defies-expectations-46-billion-net-inflows-despite-record-fine/" target="_blank" rel="noopener noreferrer nofollow">the behemoth of Exchanges</a>, has suffered a data breach on the GitHub platform, revealing highly confidential information about its inner workings. Despite a swift response to limit damage, Binance’s crisis management raises questions.</p>
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<p>On January 31, the specialized media outlet 404 Media <a href="https://www.404media.co/binance-internal-code-and-passwords-exposed-on-github-for-months/" target="_blank" rel="noopener noreferrer nofollow">reported</a> that Binance’s source codes and strategic data had leaked on GitHub. These compromising documents include infrastructure diagrams, passwords, as well as details on the security of user accounts.</p>
<p>Reacting quickly, Binance urgently requested the removal of this data, which it initially described as a “major risk.” However, after the removal, Binance’s stance changed, stating that the data was obsolete and posed a “negligible risk.”</p>
<h2 id="h-hamas-victims-pursue-binance">Hamas Victims Pursue Binance</h2>
<p>In the wake of the data leak, Binance faces another volley of challenges. Judith Raanan, an American mother and survivor of a Hamas terrorist group hostage situation, has filed a <a href="https://beincrypto.com/hamas-victims-binance-anti-terror-lawsuit/" target="_blank" rel="noopener noreferrer nofollow">lawsuit against the crypto platform</a>.</p>
<p>Ms. Raanan and other plaintiffs accuse Binance of indirectly financing Hamas’s activities by allowing the organization to use its services.</p>
<p>They rely on an investigation by the U.S. Department of Justice which established that <a href="https://www.cointribune.com/binance-and-cz-hit-with-2-7-billion-fine/" target="_blank" rel="noopener noreferrer nofollow">Binance had violated</a> U.S. banking laws, thereby facilitating the circumvention of sanctions against organizations such as Hamas.</p>
<p>Moreover, some U.S. lawmakers are echoing suspicions of murky ties between Binance and Hamas. Nonetheless, a report published by Elliptic in October 2023 has cast doubt on these claims.</p>
<p>According to this study, the amount of crypto donations actually received by Hamas was grossly overestimated, amounting to only $21,000 over the past month.</p>
<p>“<em>There is no evidence to support the claim that Hamas has received significant volumes of cryptocurrency donations.</em>“</p>
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<p>While these revelations do not absolve Binance completely, they underscore the necessity of having accurate data before jumping to hasty conclusions.</p>
<p>Between a data breach and a lawsuit for alleged terrorist complicity, <a href="https://www.cointribune.com/binance-loses-ground-okx-rises/" target="_blank" rel="noopener noreferrer nofollow">Binance’s reputation is severely tarnished</a>. The outcome of these two cases could have serious ramifications for the future of the crypto giant.</p>

Binance under siege: Data leak and lawsuit for complicity with Hamas!

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