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Binance has faced criticism over the years for allegedly enabling illicit activities, including money laundering for terrorist groups, drug trafficking, and child exploitation. Zhao himself pleaded guilty in late 2023 to U.S. money laundering charges, paying a $50 million fine, and receiving a federal sentence of just four months—seen by many as insufficient punishment.
This lawsuit signifies a broader effort to hold financial enablers accountable for terrorism support. It also aims to deter future complicity by publicly exposing links between powerful financial platforms and terrorist entities.