The newspaper subsequently reported that the Treasury is “investigating $165 million in cryptocurrency-linked transactions that may have helped finance Hamas” prior to the October 2023 attacks.

While the documents suggested that Binance may have improved its KYC and AML protocols, it’s unclear whether the Hamas overture is a response to this.

“When terrorist groups tell people to avoid Binance, it shows our controls are working,” said Binance’s chief compliance officer, Noah Perlman. “Binance is not a safe place for illicit actors. We invest heavily in sanctions screening, transaction monitoring and investigations, and we work closely with law enforcement to identify, disrupt and report terrorist financing and other financial crime.”

According to OKX, the wallet address referenced in the Feb. 10, 2025, communication had no association with OKX and had already been identified by its internal controls as linked to illicit activity. As a result, any attempts by OKX customers to transfer funds to the address would have been flagged and prevented, the exchange said via email.

Kast said it maintains a dedicated financial crime compliance function, with more than 50 employees across its broader compliance organization.

“All customers are subject to identity verification and screening before accessing our services. The company combines its own technology with established compliance and risk-management providers, including Elliptic, Sumsub, and Sardine, to support sanctions screening, customer due diligence, and transaction monitoring,” a Kast spokesman said via email.