Three American families affected by Hamas’ October 7 attack on Israel have filed a lawsuit against the governments of Iran and Syria, as well as cryptocurrency exchange Binance and its former CEO, Changpeng Zhao. The families claim that these entities provided financial and material support to the Palestinian group responsible for the attack, which resulted in the death of around 1,200 people, including 30 U.S. citizens.
The lawsuit, filed on Wednesday in the Southern District of New York, is the first of what is expected to be a series of legal actions related to the Hamas assault. The victims’ families, represented by Seiden Law LLP, include members of the Raanan family, the estate of Itay Glisko, and Jeffrey Ludmir, the uncle of Daniel Levi Ludmir.
The court filing accuses Iran and Syria, both designated as state sponsors of terrorism by the U.S., of arming, financing, and orchestrating the October 7 attack. The families also target Binance and Zhao, alleging that the cryptocurrency platform allowed Hamas to use its services for financial transactions and payments.
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The lawsuit draws attention to Binance’s recent $4.3 billion settlement with the U.S. Treasury Department in November, where the exchange acknowledged facilitating illegal activities by extremist groups, including Hamas. As part of the agreement, Zhao stepped down as Binance’s CEO.
“Incredibly, Binance went out of its way to protect users associated with Hamas and other terrorist groups from regulatory scrutiny, especially if they were ‘VIP’ users who generated huge profits for Binance,” the court filing states.
While Iran, Syria, and Binance have not responded to requests for comment, the families’ lawyers suggest that more claimants and defendants may be added to the case as additional information about the October 7 attack surfaces.
The legal action mirrors past cases where U.S. citizens have sued Iran and Syria for their alleged roles in supporting international terrorism. The September 11 attacks led to a surge in lawsuits against financial institutions, and the aftermath of the Hamas assault is anticipated to trigger a similar wave of litigation involving governments, religious foundations, and charities.
Information for this story was found via Semafor and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
