Israel Freezes Cryptocurrency Accounts Linked to Hamas Terrorists
Israel's authorities have frozen cryptocurrency accounts used for collecting donations for the Palestinian militant group Hamas, as reported by the police on Tuesday. This move is in response to the ongoing conflict and a series of deadly Hamas attacks on Israel, according to Binance.
Recently, the Israeli cyber unit has been actively collaborating with Binance, as they identified multiple cryptocurrency accounts linked to the terrorist organization Hamas.
Identification and deactivation of several Crypto accounts took place. As of Tuesday, October 10, 2023, the Israeli law enforcement, in partnership with Binance, successfully seized several cryptocurrency accounts associated with the terrorist organization Hamas. This operation was initiated in conjunction with the Ministry of Defence, Israel's security agency, and national intelligence services.
"According to suspicions, with the beginning of the war, the terrorist organization Hamas initiated a social media campaign, urging the public to deposit cryptocurrency into their accounts," stated the police.
"The police cyber unit and the Ministry of Defence promptly took action to identify and freeze these accounts using the Binance cryptocurrency platform to redirect funds to the Treasury," according to an official statement.
Hamas militants responsible for the attack on Israel have amassed tens of millions in cryptocurrency. Transactions in digital currency reveal how the US and Israel attempted to cut off Hamas, the Palestinian Islamic Jihad, and Hezbollah from foreign funding.
Prior to the attacks, investigations into Israeli government orders of confiscation and blockchain analytics shed light on substantial funds flowing to three militant organizations: Hamas, the Palestinian Islamic Jihad, and their Lebanese ally, Hezbollah.
According to the WSJ report, from August 2021 to June of this year, digital wallets linked to the Palestinian Islamic Jihad (PIJ) received $93 million in cryptocurrency.
The report cites a comprehensive analysis conducted by the renowned crypto researcher, Elliptic.
Meanwhile, an investigation into Indian cryptocurrency revealed stunning findings. The complainant reported a fraudulent transfer of bitcoins, ether, and bitcoin cash in large amounts from their cryptocurrency wallet.
The case, initially registered in PS-Paschim Vihar, was later transferred to the cybercrime department.
During the cryptocurrency investigation, unexpected revelations unfolded. Cryptocurrencies ultimately ended up in wallets associated with the Al-Qassam Brigades, the military wing of the Palestinian organization Hamas, and wallets that had previously been confiscated by the Israeli National Bureau for Counter Terror Financing.
The investigation suggested that bitcoins and other cryptocurrencies were fraudulently transferred from the complainant's wallet, passing through various private wallets, and ultimately landing in wallets controlled by entities in Gaza, Egypt, and the military wings of the Palestinian organization Hamas.