This is only a FUD they clear out those allegations here https://cryptobriefing.com/binance-palestine-wallet-freeze-allegations/
Yet, most of the replies after you still believe the whole context posted on OP without reading your reply. That's how FUD spreads like wildfire even though there are already official statements that contradicts the news. To be precise, Binance only ban those account connected to illicit funds/transactions. 
Topic: A very important update - page 3. (Read 644 times)
I was like, how come Palestine keep their assets on Binance exchange? Are they into trading? Or these people are just stupid? Well there is a big lesson to learn from this, it wouldn't have been the same story if they keep their assets in a cold storage, offline.
This is exactly what I thought when I read your post's first part. I can't make sense of it. How would a country leave its assets in an exchange? It doesn't even matter if it's CEX or not, they should have no business with that. So out of everybody involved in handling those coins, nobody thought it was a bad idea to leave their coins in an exchange? That's some pretty solid leadership and management right there. Unbelievable.
The thing about people when you give them a warning is they always feel "it won't happen to me". They hear stories and somehow they feel they're different. I wonder what makes them think they're special when they're doing the exact same thing the other victim did.
You tell people not to have unprotected sex with various sexual partners and they will feel others who have diseases from that were just unlucky or something. Most people think "it cant be me", but it actually can be you if you don't take precaution.
I know people that have been trading in the crypo for ages still leave their coins in CEX, I'm talking large amount of coins. I can't explain it.
In my experience the most important lessons are always learned through pain. They can't be taught.
So what is the real situation right now? Has Binance grozen ALL Palestinian assets like the Op said or not? Because if it is only a few addresses which were clearly linked to money laundering, I think that the alarm is not justified.
Of course, you all agree and I have not any different opinion: hodling your funds in CEX is risky (I'm still waiting after several years to recover some finds I hodled in Cryptopia, to my shame); but we must be honest and not invent news or share them if we are not sure about their validity, even if we like them.
Binance reportedly denied the allegations. all they did was freeze funds from a small number of accounts that were linked to illicit funds that were linked to Palestinian accounts. The Palestinian accounts were allegedly used to raise funds to help terrorist organizations. you can read more about it: https://cointelegraph.com/news/binance-seize-funds-palestine-israelOf course, you all agree and I have not any different opinion: hodling your funds in CEX is risky (I'm still waiting after several years to recover some finds I hodled in Cryptopia, to my shame); but we must be honest and not invent news or share them if we are not sure about their validity, even if we like them.
I don't know how much pressure is being put on Binance by Israel. but if it can happen to the Palestinians now, it's very possible that it will happen to us who have accounts there in the future when more conflicts between countries occur. but hopefully that doesn't happen.
So what is the real situation right now? Has Binance grozen ALL Palestinian assets like the Op said or not? Because if it is only a few addresses which were clearly linked to money laundering, I think that the alarm is not justified.
Of course, you all agree and I have not any different opinion: hodling your funds in CEX is risky (I'm still waiting after several years to recover some finds I hodled in Cryptopia, to my shame); but we must be honest and not invent news or share them if we are not sure about their validity, even if we like them.
Of course, you all agree and I have not any different opinion: hodling your funds in CEX is risky (I'm still waiting after several years to recover some finds I hodled in Cryptopia, to my shame); but we must be honest and not invent news or share them if we are not sure about their validity, even if we like them.
I don't know why they do this, assume your news is true.
How do Israel have very powerful request on Binance like this?
It's weird but this action is another red flag that reminds us about risk of storing Bitcoin and cryptocurrencies on centralized exchanges.
~snip~
How do Israel have very powerful request on Binance like this?
It's weird but this action is another red flag that reminds us about risk of storing Bitcoin and cryptocurrencies on centralized exchanges.
~snip~
Who is Israel's greatest ally? Well, of course, it is the US which, in addition, is holding a very important person in the whole story in prison - his name is CZ. Regardless of how pointless it is to use any CEX as some kind of crypto bank, this particular one in question here is apparently completely under the control of some very curious agencies...
It just get to me that Binance exchange seized Palestine crypto assets on it's platform, this just prove to me that no fund is SAFU no matter who you are, and I think you should feel the same way too, stop leaving your funds on any exchange, small or big it doesn't matter.
The context of SAFU is not about your funds is safe from been seized, it's really means Binance is insuring customers that no matter what happened to Binance exchange, there is insurance money that covers your deposit incase of hack or any other unforeseen circumstances that happen to the exchange in the future.
On the issue of Palestinian accounts froze, I just check the announcement made by Binance and it seems they said and I quote that it was some accounts that were involved in money laundering and all that which may be false or may be truth. However, this is what you get when you don't listen and keep your coins on exchanges. Not your keys, it's not your coins to control.
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I was like, how come Palestine keep their assets on Binance exchange? Are they into trading? Or these people are just stupid? Well there is a big lesson to learn from this, it wouldn't have been the same story if they keep their assets in a cold storage, offline.
You can't say for sure, this is just political hunt on some people and Binance is just doing a back door for government to do their thing. This is exactly what Telegram is against and their CEO is remanded in France prison. Binance chicken out and now doing their bidding. Imagine another government that will ask for other users funds to be sealed again, censorship recycling on our eyes.
We can only guess why Palestinians have entrusted Binance to keep their funds. Well, who doesn't do this? Almost every person has confidence and trust in this exchange to keep their funds while us here, we've been warning people not to trust all of our funds to any exchange whether they're reputable or new. We'd always be back to the simple phrases about "not your keys, not your coins" quote. But on the part of Binance, they cannot do anything when a government dictates to them what they should do with all of the funds that are on them from specific people or citizens so that they can flee for a heavier punishment.
I don't think people in this community will fall victim to this kind of incident that happened to this people, because legendary, hero and other members keep alerting the beginners in this community never to leave their funds in the exchange, and they gave some reason why they advised beginners never to make sure mistakes in this community. One of the important thing is that, your funds are not safe in the exchange because you are not the only one controlling the funds in the exchange, and if you want to hold your funds for long term before you can release them to the market, you can make use of safe wallet when you can have confidence of leaving the funds for years before you can make use of them and you will not regret.
This is only a FUD they clear out those allegations here https://cryptobriefing.com/binance-palestine-wallet-freeze-allegations/
Binance will be in huge trouble if they do that. For sure they cannot get back in their normal operation if they seized the asset of a country since they will be tag as huge scam.
But even though we found out that all of this is FUD still we should never trust any exchange and store huge funds there. Since we know the consequences that might happen since there's huge chance that their site will get compromised even if they say that everything is safe and nothing will happen to their costumers funds.
Binance will be in huge trouble if they do that. For sure they cannot get back in their normal operation if they seized the asset of a country since they will be tag as huge scam.
But even though we found out that all of this is FUD still we should never trust any exchange and store huge funds there. Since we know the consequences that might happen since there's huge chance that their site will get compromised even if they say that everything is safe and nothing will happen to their costumers funds.
This is no more new but no matter how you tell people, some of them will not just listen until they are affected.
Some peoole that are traders will likely be affected. Traders depend more on those exchanges for spot, margin and derivative trading like future and options trading.
But still not your key not your coins.
Some peoole that are traders will likely be affected. Traders depend more on those exchanges for spot, margin and derivative trading like future and options trading.
But still not your key not your coins.
It just get to me that Binance exchange seized Palestine crypto assets on it's platform, this just prove to me that no fund is SAFU no matter who you are, and I think you should feel the same way too, stop leaving your funds on any exchange, small or big it doesn't matter.
I don't know why they do this, assume your news is true.How do Israel have very powerful request on Binance like this?
It's weird but this action is another red flag that reminds us about risk of storing Bitcoin and cryptocurrencies on centralized exchanges.
Reminder: do not keep your money in online accounts
Recent events should make everyone withdraw all their coins to their own wallets
Recent events should make you withdraw all your coins to your own wallet: Part 2
Recent events should make you withdraw all your coins to your own wallet: Part 3
[Part IV] Get your coins out of custodial wallets now
It just get to me that Binance exchange seized Palestine crypto assets on it's platform, this just prove to me that no fund is SAFU no matter who you are, and I think you should feel the same way too, stop leaving your funds on any exchange, small or big it doesn't matter.
I was like, how come Palestine keep their assets on Binance exchange? Are they into trading? Or these people are just stupid? Well there is a big lesson to learn from this, it wouldn't have been the same story if they keep their assets in a cold storage, offline.
I am not a Palestinian and I am not taking any sides but honestly, that same centralised power protecting you can go against you no matter who you are, in this similar situations centralisation sucks.
Respect and Adore keeping your crypto assets offline, far away from online and cex platforms.
I was like, how come Palestine keep their assets on Binance exchange? Are they into trading? Or these people are just stupid? Well there is a big lesson to learn from this, it wouldn't have been the same story if they keep their assets in a cold storage, offline.
I am not a Palestinian and I am not taking any sides but honestly, that same centralised power protecting you can go against you no matter who you are, in this similar situations centralisation sucks.
Respect and Adore keeping your crypto assets offline, far away from online and cex platforms.
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