TechFlow news, according to the Financial Times of the UK, Israeli law enforcement has shut down multiple cryptocurrency accounts and seized millions of dollars worth of digital assets to sever Hamas's ties with the crypto market.
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Since Hamas's attack on Israel on October 7, over 100 accounts on Binance, the world’s largest cryptocurrency exchange, have been closed, with another 200 under investigation.
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Binance confirmed it has "blocked" several accounts since the summer, stating compliance with international sanctions regulations.
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Israeli law enforcement officials warned that terrorist organizations could use the crypto market to receive and transfer funds. Cryptocurrency fundraising activities have increased following Hamas's attack on Israel.
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Tether froze 32 addresses suspected of links to "terrorism and war" in Israel and Ukraine, though no further details were disclosed.
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Multiple social media posts have sought donations in cryptocurrency to groups linked to Hamas.
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Binance has faced allegations of connections to Hamas but stated it will defend itself against the lawsuit.
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Israeli authorities have enlisted volunteers to help track suspicious fund flows within the cryptocurrency market.
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Over the past two years, Israeli authorities have seized millions of shekels in cryptocurrency accounts suspected of being linked to Hamas and other radical organizations.
