Israel Seizes 30 Crypto Wallets Allegedly used to Fund Hamas

  • Israel has seized digital wallets reportedly used by Hamas, shutting down the terror group’s finance channels. 
  • Defense Minister Benny Gantz approved the confiscation of 30 bitcoin wallets from 12 accounts owned by a Gaza-based exchange company that the ministry has now designated as a terror group.

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Israeli authorities seized digital wallets reportedly used by Hamas, thereby shutting down the terror group’s finance channels, according to the Defense Ministry.

Defense Minister Benny Gantz approved the confiscation of 30 bitcoin wallets from 12 accounts owned by a Gaza-based exchange company that the ministry has now designated as a terror group.

According to the government, the Shamlah family’s company, al-Mutahadun, “assists the Hamas terror group, particularly its military arm, by transferring finances worth tens of millions of dollars every year.”

“I would like to congratulate all the organizations on their intelligence, operational and legal cooperation. We will continue to work together, in order to fight terror by any means and in any way,” he added.

To aid with their financial troubles, Hamas launched a request for Bitcoin donations from supporters in 2019. Months later, it started an experimental effort to gather funds from international donors using a sophisticated cryptocurrency system.

It has had financial difficulties in recent years as banks have sought to avoid doing business with it.

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Shambhavi Soni

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