Defense Ministry of Israel captured the Crypto-Wallets located in Gaza Crypto Exchange. The crypto wallets used for terrorism funding by Hamas leaders against the Israeli nation, as per the news report of the Times of Israel.
According to the Times of Israel’s recent report. The Defense Ministry Of Israel banned 30 crypto wallets, from a Gaza-based crypto exchange. Where the Hamas militant group was covertly supporting its militants.
Further, the defense ministry of Israel claimed. That the 30 crypto wallets from 12 exchange accounts belong to al-Mutahadun captured under the combined operation, by the defense ministry of Israel.
Because these crypto accounts were used by Hamas’s leaders in terror funding against the nation of Israel.
As well, on Monday, the defense ministry of Israel stated. That Al-Mutahadun supported the Hamas military wing. “By transferring funds amounting to ten million dollars per year.”
But the defense ministry of Israel has not clearly stated the details about the proper value of seizures. And which cryptocurrencies were captured.
Moreover, on this matter, the Israeli defense minister, Benny Gantz stated,
“We continue to expand our tools to deal with terrorism. And with companies that supply it with an economic oxygen pipeline.”
Additionally, the banned crypto wallets were connected to the crypto exchange Al Mutahadun. That Belongs to the Shamlach Family of Gaza.
Also, in 2021, the crypto exchange Al-Mutahadun was marked as a terrorist organization. As it was found involved in terror funding to Hamas.
What Chainalysis says about terrorist financing through Cryptocurrencies?
Moreover, as per blockchain monitoring firm, Chainalysis analysis report. a minimum portion of cryptocurrencies involved in criminal funding activities.
However, the seizures of the crypto wallets were made possible by the cooperation of Israel’s National Bureau for Counter Terror Financing (NBCTF).
And in 2021, the NBCT managed the same seizure of Hamas crypto funds. At that time, the seized crypto wallet contains the Tether (USDT), Ether (ETH), Dogecoin (DOGE), XRP, BNB, Zcash (ZEC), Litecoin (LTC), and other assets.
However, the crypto monitoring company, Cyphertrace has confirmed. That the funds that have been captured last July have been used by Al-Qassam Brigades, connected to the Hamas military group.
Final Thoughts:
The government of Israel proved its active hawk’s eye on terror financing using cryptocurrency. As well, this is not the first time the defense ministry of Israel has captured the crypto wallets.
Earlier this, the defense ministry took many initiatives, against the Hamas military group’s terrorist funding.
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