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In a bold legal move, families and victims affected by Hamas's brutal October 7th attack in Israel have filed a multi-billion dollar lawsuit against Zhao Jinbao, former CEO of Binance, one of the world's leading cryptocurrency exchanges. The plaintiffs allege that Zhao allowed Hamas terrorists to exploit Binance’s platform, violating international sanctions and U.S. laws aimed at combating terrorism financing.
The lawsuit, filed in California’s Superior Court, involves over 100 plaintiffs, including U.S. and Israeli citizens. The victims claim that by turning a blind eye, Zhao facilitated Hamas's access to funds, circumventing traditional financial systems crucial for their attack that resulted in nearly 12,200 deaths and hundreds of kidnappings.