Israel’s authorities are continuing to crack down on individuals and businesses suspected of financing terrorism. In the most recent case, they seized about $800,000 in digital assets from such a company.
- According to a recent local source, Defense Minister Benny Grantz approved the seizure order.
- According to the article, the total amount in unreported crypto assets was NIS 2.6 million (about $840,000).
- According to reports, the cash were linked to the Malach Family’s al-Mathaddon exchange. According to some authorities, the latter has close ties to Hamas in Gaza.
- This is the second similar seizure of cryptocurrency in recent months, following Gantz’s supervision of the confiscation of 150 digital wallets belonging to al-Mathaddon.
- According to unnamed sources, the company expanded its operations following the killing of Hamed Ahmed Khundari (also accused with sponsoring terrorism), and the proceeds were on their way to Hamas.
- “We will pursue terrorist funds indefinitely.” The blow to Hamas and the terrorist organization’s ability to avoid traditional means of transferring cash, via digital currency, is a key weapon in the evolving security system,” said Gantz.
- Previously, Israel’s Authority for Combating Terrorism Financing and Money Laundering stated that it intends to impose new laws on certain digital financial instruments, including cryptocurrencies. Its goal is to reduce the use of cryptocurrency in criminal activity and terrorist funding.
What's your reaction?