Israel's National Agency for Countering the Financing of Terrorism has announced the seizure of millions of dollars in crypto wallets that were intended to finance terrorism. The operation, which ended recently, resulted in the confusion of cryptocurrencies that had been transferred to terrorist groups Hezbollah and Iran's Quds Force. Israeli Defense Minister Yoav Gallant praised the cooperation between defense and justice ministries, intelligence agencies, and new technologies, emphasizing the effective disruption of terrorist funding through this channel.
According to blockchain analysis firm Chainalysis, Israeli authorities seized $1.7 million in the operation. The firm acknowledged that its tool played a crucial role in this significant achievement for national security. This seizure represents the largest cryptocurrency Confiscation to date from Hezbollah and the Quds Force. It was revealed that these groups, along with "Syrian elements," have been utilizing cryptocurrencies to obtain funds through illicit transactions, often involving money changers.
This recent action by Israel is part of a broader effort to combat crypto financing in the region. In April, the Palestinian group Hamas announced that it would no longer accept cryptocurrency donations due to concerns for the safety of donors and the intensified hostilities surrounding such transactions . Additionally, it was reported that Israel had seized around 190 accounts on the Binance exchange linked to Hamas and the Islamic State since 2021. Binance responded to the report, criticizing Reuters for omitting key facts in its coverage of the matter.
