Sunday, December 10, 2023

Israeli officials seize crypto accounts related to Hamas.

The current state of the world is based on two macro concepts – geopolitical issues and cryptocurrency. Another interaction of these two delicate yet powerful is witnessed in Israel. Israel has been in news, recently, due to the Israel-Palestine issue.

Seized Crypto Accounts

Israeli officials seized 30 sets of crypto wallets linked to Hamas. Out of these 30 accounts, around 12 exchange accounts were found to be linked to a militant group. The crypto exchange al-Mutahadunwere also came into the picture. These are knowingly linked with a militant group based in Gaza Strip. The exchange is noted to be used in many transactions funding terrorism. The transactions amount to a total of tens of millions of dollars annually. The Hamas leaders and the terrorist groups, as per reports, are known to incite actions against the country.

The total value of the funds seized is disclosed yet. The Defense Minister of Israel, Benny Gantz, talked about the ill intentions behind these funds but did not specify the digital assets that were found.

Cryptocurrency and Criminal Activities

Like the ministry of Israel is finding such accounts, organizations around the world are doing the same. Many law enforcement agencies and financial institutions are tracking financial criminals and scammers. There is a lot of ambiguity on the use of cryptocurrency. Many experts and blockchain technology firms have stated that cryptocurrencies are not used for illegal means. Even if there are some cryptocurrencies involved, it is a very small portion – but the state of Israel denotes something else.

Many crypto funds are seized for the last two years connected to terror activities. Many coins like Litecoin, Dogecoin, and Ether were found in huge quantities. Such actions are motivating the officials to continue with their search for digital funds. Like Israel, other countries and their financial units are also becoming more vigilant on this.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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