Israel Defense Ministry Seized Crypto Wallets Connected To Hamas

The Israel Defense ministry seized crypto wallets connected to Hamas that were used to fund the terrorist organization as we see further in today’s altcoin news.

The Israel Defense ministry announced the seizure of digital wallets containing crypto intended to fund the terrorist group Hamas. More than 30 wallets were seized containing tens of thousands of shekels linked to 12 digital accounts. The wallets belonged to businesses that assisted the Al-Matchadun currency exchange company that belongs to the Shmalach family which is declared by the Defense ministry as a terror organization. The family has been on Israel’s radar for a while now with the NBCTF noting that thorugh the exchange companies it owns, It assists the Hamas terror organization and its military branch by transferring funds in scopes of millions of dollars per year.

“We will continue to target the Iran-Hamas axis, and disrupt the funding channels which serves the military wings of the terrorist organizations.”

The Palestinian terror group Hamas saw an uptick in crypto donations as they are trying to avoid international sanctions. In June 2021, Hamas officials said that there had been a spike in BTC donations to the group saying that “Some of the money gets used for military purposes to defend the basic rights of the Palestinians.” Israel responded by getting crypto wallets linked to Hamas and in July 2021, wallets containing $7.7 million in BTC, DOGE, USDT were seized by the ministry.

Hamas hasn’t just been soliciting donations in crypto according to one police investigation, it even showed links between a crypto wallet hack and a terrorist organization. BTC, ETH, and BCH worth millions were looted from a Delhi businessman’s wallet before getting routed to the Hamas military wing.

Also as we reported previously, Israel’s authorities continue their efforts in order to clamp down on the individuals and companies related to funding terrorism. In the latest example, Israel seized $840K in crypto assets from a Hamas-linked company. According to the recent local report, Defense Minister Benny Grantz signed the order for the seizure. The coverage noted that the total amount was $840,000 in undisclosed crypto assets. Israel seized $840,000 in funds connected to the al-Mathaddon exchange which belongs to the Malach Family and some resources even claim that the latter has deep connections to Hamas and Gaza.