Authorities from Israel have seized over 30 digital wallets with links to the terrorist group Hamas. Moreover, these digital wallets were operational on the crypto exchange platform called al-Mutahadun.
The Israel Defense Ministry has said that the crypto exchange platform is funding the terrorist group. On 28th February, the Defense Ministry added that al-Mutahadun has transferred funds worth “tens of millions of dollars a year” to Hamas.
However, the Ministry has not revealed the exact amount it has seized from these digital wallets.
For the unaware, Hamas is a militant movement and governs Palestine in the Gaza Strip. Most western countries have designated it as a terrorist group. Additionally, Israeli authorities believe that Hamas is using crypto funds to finance its military operations.
Defense Ministry of Israel Crackdown On Digital Wallets With Links To Hamas
According to local agencies, the Israeli Defense Ministry along with the police and the ministry conducted a joint operation on 28th February 2022. This joint operation led to the seizure of 30 digital wallets from 12 accounts. Additionally, these digital wallets belonged to al-Mutahadun crypto exchange platform.
Moreover, authorities reveal that the seized assets are more than ten of thousands of shekels (Israeli currency). For quite some time, the Israeli Defense Ministry has said that the crypto exchange platform has links to Hamas.
In 2021, the Defense Ministry termed al-Mutahadun as a terrorist-funding entity. The Shamlah family that owns the crypto platform are transferring funds to finance Hamas Group.
Commenting on the seizure, Beni Gantz says, “We continue to expand our tools to deal with terrorism and with companies that supply it with an economic oxygen pipeline.”
Moreover, he added that, “We will continue to work together in order to fight terror by any means and in any way.”
Hamas Uses Cryptocurrency To Fund Its Military Operations
The latest seizure from Hamas Group marks just one of the many confiscations conducted by the Defense Ministry of Israel. In 2021, the Israel Bureau for Counter Terror Financing seized over $7.7 million cryptocurrencies from 84 addresses.
In January 2022, the Israeli government seized more than $800,000 digital assets of a firm. Both these incidents have links to the terror outfit Hamas. Moreover, authorities say that Hamas is increasingly using digital assets for its terror activities.
As we know, there are tensions between Israel and the Islamic State of Palestine. Talking about the terror financing through crypto, the Israeli Defence Minister said that they are, “acting in every conceivable way to cut off the economic oxygen pipe of Terror.”