Israel Seizes Hamas Crypto Wallets: Cracking Down on Terrorist Financing
In a significant move to combat terrorist financing, Israeli authorities have reportedly seized cryptocurrency wallets linked to Hamas, the Palestinian militant group based in the Gaza Strip. This action follows recent attacks and aims to disrupt the group's ability to raise funds through digital assets.
Recent reports indicate that Israeli police froze crypto wallets on Binance used by Hamas to collect online donations, according to local Israeli media. This crackdown is part of a broader effort by Israel's security establishment, which recently issued a seizure order against cryptocurrency wallets belonging to the Hamas terrorist group, according to multiple Israeli media reports.
Over the last few years, Israel’s National Bureau for Counter Terror Financing (NBCTF) has repeatedly targeted Hamas’ use of cryptocurrency, seizing dozens of cryptocurrency accounts. The Justice Department also announced the disruption of an ongoing terrorist financing scheme through the seizure of approximately $201,400 in cryptocurrency held in accounts linked to Hamas.
The operation, according to reports, involved a joint effort that “uncovered a web of electronic wallets” used by Hamas. Following this discovery, Israeli Defense Minister Benny Gantz ordered security forces to seize the accounts. Israeli police have seized crypto accounts belonging to Palestinian militant group Hamas in the wake of the group’s recent attacks. Hamas allegedly directed funding it.
Specifically, a set of 30 crypto wallets from 12 exchange accounts that have been linked to Hamas were seized on Monday by Israeli authorities.
This action underscores the increasing scrutiny of cryptocurrency's role in illicit financing and the growing efforts by governments worldwide to regulate and monitor its use by terrorist organizations. The seizure represents a significant blow to Hamas's financial infrastructure and highlights the ongoing battle against terrorist financing in the digital age.
The long-term impact of these seizures on Hamas's operations remains to be seen, but it signals a clear message that the use of cryptocurrency for terrorist activities will not be tolerated.