Australians have been warned against investing money with the world’s largest cryptocurrency exchange.
Binance has been charged by a US regulator for multiple breaches of money laundering regulations which it allegedly deliberately tried to evade.
It allegedly allowed criminals with links to Russian organised and the terrorist organisation Hamas to trade on the platform.
In one internal communication, compliance officer Samuel Lim allegedly told a colleague that Hamas used small transactions to avoid detection, Block reward – crabcrypto.online – to which the colleague allegedly replied: ‘can barely buy an AK47 with 600 bucks’.
The trading giant has about 280,000 Australian customers and was seen as the main rival to the Sam Bankman-Fried run FTX which spectacularly imploded last year.
The cryptocurrency giant and its founder Changpeng Zhao (pictured) were charged with multiple violations of money laundering regulations
Binance is the world’s largest crypto exchange and was seen as a rival to the imploded FTX
Cryptocurrency expert David Gerard, who has written two books on the industry, said Binance should be kicked out of legitimate financial markets.
‘Australian consumers should stay away from Binance,’ he told