Israel actively freezes crypto accounts belonging to Hamas

Israel ordered crypto exchange Binance to locate and shut down all the terrorist-related accounts on its platform, as Hamas is actively seeking funds.

The cyber unit of Israel Police’s Lahav 433 has blocked crypto accounts belonging to Hamas a few days after the Palestinian militant group launched an attack in Israel, killing hundreds of civilians.

According to The Times of Israel, a spokesperson for the cyber unit said that Hamas had been seeking fresh capital in crypto, calling for donations on social media since Oct. 7.

Although no details were given, the report says Israel ordered cryptocurrency exchange Binance to locate and shut down the accounts on its platform. Lahav 433 is also reportedly working with the UK police to freeze a Hamas-related account in Barclays Bank.

The move comes shortly after Hamas launched its unprecedented assault over the weekend, killing hundreds of civilians and taking hostages to “liberate all Palestinian prisoners” from Israel, according to a spokespserson for the militant group.

As of press time, approximately 900 people have been killed, and over 2,300 others have been injured by Hamas forces. Palestinian authorities claim around 560 people have died and another 2,900 have been injured as Israel increased airstrikes on the Gaza Strip.

In June 2023, Israel also seized crypto worth millions of dollars from accounts linked to Iran and Hezbollah, Lebanon’s armed group supporting Hamas in its war with Israel.

The Defense Minister of Israel, Yoav Gallant, said the government had seized millions of dollars worth of cryptocurrencies linked to Iran’s military arm, Quds Force, and the Lebanese militant group Hezbollah.