Media reported Israel blocking Hamas crypto accounts


Hamas is recognized as a terrorist organization by Israel, Canada, the USA, Japan, the EU, and is also banned in Jordan and Egypt. In Australia and the UK, only the military wing of Hamas is recognized as terrorist. In Russia, Hamas is not recognized as a terrorist organization.

The Israeli police cyber unit Lahav 433 has frozen Hamas cryptocurrency accounts used to collect donations on social networks. This was reported by The Times Of Israel.

The publication, citing the police, indicated that the blocked addresses had been used since the outbreak of the armed conflict on October 7.

Lahav 433 works with the Ministry of Defense, Shabak and other intelligence agencies to limit funding to Hamas. The Binance exchange also helped Israel with freezing assets, the material says.

A platform representative in a comment to ForkLog did not directly confirm cooperation with the cyber division. According to the company, “over the past several days, the team has been working around the clock in real time to support ongoing efforts to combat the financing of terrorism.”

“The information we use to identify individuals, addresses and infrastructure associated with specific organizations is based on intelligence provided by authorities and tools developed by us and our partners,” Binance explained.

According to media reports, Israeli authorities also collaborated with British police to get to the alleged terrorists’ accounts at Barclays Bank.

The local Web3 community came out in support of the country by establishing the Crypto Aid Israel fund to raise funds for humanitarian assistance to citizens. The Fireblocks custodian is responsible for asset management.

The alliance includes: MarketAcross, Collider Ventures, CryptoJungle, Israel Blockchain Association and others. The organization is partnered with numerous banks and regulators who will provide a bridge to transfer digital assets to traditional accounts.

Fund representatives stressed that a strict policy has been adopted that requires a minimum of four out of seven signatures for the withdrawal of funds.

According to on-chain data, users have already sent a total of 0.1 BTC (~$2765 at the time of writing) and 12.7 ETH (~$20,585) to the fund.

Let us recall that in June the Israeli government confiscated funds from cryptocurrency wallets associated with the financing of the group. Hezbollah and the IRGC Quds Forces.

According to media reports, since December 2021, local authorities have blocked 189 accounts on the Binance exchange, allegedly related to groups ISIS and Hamas.

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