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According to an official press release by local media organization Calcalist, the Israeli police has frozen crypto accounts associated with the Palestinian militant group Hamas. It was reported that Binance, the world’s largest cryptocurrency exchange, assisted in freezing the crypto accounts.
Israeli Police Freezes Crypto Accounts Associated with Hamas
Following the escalation of Hamas’ multi-faceted attack on Israel over the weekend, the Israeli Defense Minister ordered the complete siege of the Gaza Strip, a Palestinian settlement area. During this siege, Israeli law enforcement launched a multi-faceted operation against Hamas, targeting the militant group’s financial resources.
According to Calcalist, the cyber unit of the Israeli police’s Lahav 433 unit worked in collaboration with the country’s Ministry of Defense, intelligence agencies, and crypto exchange Binance to freeze crypto accounts identified as belonging to Hamas and seize the funds in these accounts.
The report mentioned that an undisclosed amount of funds was seized during the operation. It was stated that all seized funds would be transferred to the Israeli national treasury.
Israeli authorities have previously conducted a similar operation against Hamas and seized approximately 190 Binance accounts allegedly linked to militant groups since 2021.
CFTC Targeted Binance for Transactions Linked to “Hamas”
As it is known, the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance CEO Changpeng Zhao (CZ) in March. The lawsuit alleges that the officials of the major cryptocurrency exchange had knowledge of all crypto transactions and fund transfers carried out by Hamas on the platform. Binance and CZ denied the allegations.
The active involvement of Binance in the Israeli police’s operation against Hamas and its contribution to the process has caused a stir in the crypto world. Currently, other details of the operation are unknown.