Israeli Authorities Freeze Crypto Donation Accounts Linked to Hamas
The Israeli police cyber unit have frozen cryptocurrency accounts used by Hamas to raise donations via social media, Jerusalem Post reported.
This action comes as part of a broader effort to curb the flow of funds into the hands of the terrorist organization, especially during times of conflict.
The cyber unit's investigation revealed that Hamas had initiated an online fundraising campaign with the outbreak of the recent conflict, urging the public to deposit cryptocurrencies into its accounts. These funds were likely intended to support its activities.
The Israeli police cyber unit, in collaboration with the National Headquarters for Economic Warfare, swiftly located and froze these cryptocurrency accounts.
Authorities asked Binance to facilitate the process of withdrawing the seized funds into the state treasury.
The Israeli cyber unit, known as Lahav 433, also worked closely with the UK police to freeze an account held at Barclays Bank.
The unit's efforts extend beyond this operation, as it continues to actively search for financial infrastructures in cryptocurrencies used by terrorist elements.
Amid the ongoing conflict in Israel, the country's crypto and Web3 communities have come together to establish "Crypto Aid Israel."
This initiative aims to raise funds to support Israeli citizens who have been displaced and are in need of humanitarian aid due to the escalating conflict with Hamas.
Crypto Aid Israel has set up a multi-signature wallet, controlled jointly by multiple parties, to accept donations denominated in various cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and dollar-linked stablecoins such as USDT and USDC.
Several Israeli banks and regulators have also stepped in to facilitate the flow of these
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