Israel confiscated millions of dollars in cryptocurrencies associated with terrorists


The Israeli government confiscated funds from cryptocurrency wallets through which transactions in alleged Hezbollah and special forces funding schemes took place IRGC “Quds”. AP reports.

Both organizations are recognized by a number of countries as terrorist and are excluded from the traditional global financial system.

The funds seized amounted to millions of dollars in unnamed digital assets. This is the first operation of this magnitude to arrest and confiscate cryptocurrencies in the country.

According to Israeli Defense Minister Yoav Galant, Hezbollah and Quds rely on virtual currency to fund their combat activities due to anonymity and perceived difficulty in tracking.

“The current operation should serve as a warning to sponsors of terrorism as the Israeli authorities have developed tools and methods to identify blockchain transactions,” he said.

Recall that since December 2021, the Israeli authorities have confiscated 189 accounts on the Binance cryptocurrency exchange, allegedly associated with terrorist groups. ISIS and Hamas.

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