Israeli defense minister authorizes seizure of Hamas-tied crypto accounts

Israeli defense minister Benny Ganz has signed an order authorizing security forces to seize cryptocurrency accounts believed to be tied to the militant wing of Hamas, the de facto ruling authority of the Gaza Strip in Palestine.

Ganz has said that a joint security operation between the Ministry of Defense’s National Bureau for Counter Terror Financing and the security forces had “uncovered a web of electronic wallets” thought to be tied to Hamas and its ongoing fundraising efforts using Bitcoin (BTC) and other cryptocurrencies.

Hamas’ long-running efforts to raise funds via crypto had reportedly recently accelerated following the 11-day war between Israel and the organization in May of this year. In his statement, Ganz presented “the intelligence, technological and legal tools” that had enabled the authorities to intercept the funds as “an operational breakthrough.”

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