Israel has instructed the Binance cryptocurrency exchange to locate and close all accounts related to terrorists, as Hamas actively seeks funding through crypto. This move follows Hamas’s recent attack in Israel, resulting in numerous casualties.
Israel has taken decisive action to freeze cryptocurrency accounts associated with Hamas, a Palestinian militant group. This action comes in response to Hamas’s recent attack in Israel, which led to the loss of many lives.
According to reports, Israel’s cyber unit, known as Lahav 433, blocked cryptocurrency accounts belonging to Hamas shortly after the group called for fresh capital through crypto donations on social media, starting from October 7. While specific details were not disclosed, it is reported that Israel has directed cryptocurrency exchange Binance to identify and close these accounts on its platform. Additionally, Lahav 433 is reportedly collaborating with UK police to freeze a Hamas-related account held at Barclays Bank.
This development reflects a growing trend of governments using crypto regulation to combat illicit financial activities. Notably, in June 2023, Israel also seized millions of dollars in cryptocurrency linked to Iran and Hezbollah, who support Hamas in its conflict with Israel.
As of the latest reports, the conflict has resulted in approximately 900 casualties, with over 2,300 others injured due to Hamas attacks. Palestinian authorities have reported around 560 deaths and nearly 2,900 injuries as Israel intensifies airstrikes on the Gaza Strip.