Fun

Report: Israel Defense Ministry Seized Crypto Wallets Holding Hamas-Destined Funds

News Feed - 2022-03-01 10:03:19

Report: Israel Defense Ministry Seized Crypto Wallets Holding Hamas-Destined Funds


Israel’s Defense Ministry seized cryptocurrency wallets holding funds that were destined for Hamas, a report has said. The wallets belonged to businesses that are associated with Al’matchadun currency exchange, which itself is accused of helping to funnel funds to Hamas. Seizure Order


Israel’s Defense Ministry recently seized cryptocurrency wallets belonging to businesses that are associated with Al’matchadun currency exchange. The wallets had crypto assets worth thousands of dollars or tens of thousands of shekels.


The Defense Ministry alleges the seized funds were en route to Hamas, which the U.S. State Department and the European Union have designated a terrorist organization.


According to areport in the Jerusalem Post, the seizure was carried out after Defense Minister Benny Gantz signed an order authorizing the action. The report added that this seizure marks the third time within a twelve-month period that Israel has taken over crypto wallets or assets on terrorism funding charges.


Al’matchadun, according to the report, is owned by the Shamlach family which the Defense Ministry says is affiliated with terror networks. In his remarks following the seizure, Gantz is quoted reiterating Israel’s commitment to stopping the flow of funds to Hamas. He said: We are taking all the possible measures to cut off the economic ‘oxygen supply’ to terror organizations. We continue to expand the tools to cope with terror and the companies that support it. I commend the organizations involved for their intelligence, operational, and legal cooperation. We will continue to take all the measures necessary to fight terror. New Crypto Transaction Reporting Regulations


Israeli security agencies involved in the seizure of the crypto wallets include the National Bureau for Counter Terror Financing in Israel (NBCTF) as well as the national cyber unit of Lahav 433. Israel Defense Forces (IDF)’s intelligence division was also a part of the operation.


Before the latest seizure, the NBCTF had previously seized crypto assets such as tether, XRP, and ether — all of which it said were destined for the Izzadin al-Qassam Brigades, Hamas’ military wing.



Israel’s latest seizure of crypto assets comes just a few months after the Authority for Combating Terror Financing and Money Laundering announced new regulations that demand more transparent crypto transaction reports. Tags in this story Al"matchadun currency exchange, Benny Gantz, cryptocurrency wallet, Hamas, Money Laundering, National Bureau for Counter Terror Financing in Israel (NBCTF), terrorism financing, US State Dep, US State Department


What are your thoughts on this story? Tell us what you think in the comments section below. Terence Zimwara


Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route. SEC to Crypto Companies: There Are Benefits to Self-Reporting Violations and Working With Us REGULATION | 12 hours ago US Charges Indian Citizen in $3.4 Billion Crypto Ponzi Scheme Bitconnect REGULATION | 3 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleSEC to Crypto Companies: There Are Benefits to Self-Reporting Violations and Working With Us Next articleCardano-Powered Flickto Looks to Be the Solution to Today’s Unfair Media Landscape and Aims to Become the Pioneer of DeMe Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFarmville Creator Zynga to Launch NFT Games, Says Gaming Firm"s Blockchain Lead


American social game developer Zynga has plans to launch non-fungible token (NFT) games in the near future. Zynga’s vice president of blockchain, ​​Matt Wolf, told the press that the company is looking at the cycle right now and “figuring out ... read more.Global Regulators "Going Full Steam" on Crypto — Official Says "Current Structure Is No Longer Fit for the Purpose" Fintech Specialists Predict Ethereum Price Hitting $6,500 This Year Before Rising to $26,338 by 2030 Fitch Ratings Downgrades El Salvador Deeper Into Junk Status Citing Bitcoin Risks City of Miami Gets $5.25M Disbursement From Miamicoin as MIA Flounders 88% Lower Than Price High

News Feed

American Rapper Cardi B Endorses WAP Token Again—But Is It A Rugpull?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Crypto AI Coins Just Surged 34% – Here Are the Best Altcoins That Could Be the Next to Explode
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Survey Finds Almost 70% Of Ethereum Institutional Investors Engaged In ETH Staking
Este artículo también está disponible en español. Almost 70% of institutional investors in Ethereum (ETH) are participating in ETH staking, with 60.6% of them using third
Can Unlimited Fiat and Governments Suppress Bitcoin’s Price? 2 Analysts Discuss the Theory and Odds
Can Unlimited Fiat and Governments Suppress Bitcoin’s Price? 2 Analysts Discuss the Theory and Odds The price of bitcoin has dropped 72.9% in USD value since the crypto asset
Shiba Inu Market Struggles Might Just Be The Calm Before A 400% Storm
Este artículo también está disponible en español. The once dominant Shiba Inu (SHIB) is enduring a severe cryptocurrency downturn, seeing a significant 26% price reductio
Ether ETFs will ‘probably be rejected’ in May — VanEck CEO
Martin Young5 hours agoEther ETFs will ‘probably be rejected’ in May — VanEck CEO“Pins are dropping,” Jan van Eck told CNBC that the lack of comment from the SEC regarding the roster of pending Ether ETFs was f
Blockchain.com Launches Crypto Visa Card With 1% Cashback Crypto Rewards
Blockchain.com Launches Crypto Visa Card With 1% Cashback Crypto Rewards Crypto firm Blockchain.com has announced the launch of a new crypto-centric pre-paid Visa card and so far,
US Regulators and the Fed Jointly Issue Crypto Warnings
US Regulators and the Fed Jointly Issue Crypto Warnings The Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OC
Bitcoin-Friendly Portugal Welcomes Refugees From Ukraine’s Crypto Sector, Report Reveals
Bitcoin-Friendly Portugal Welcomes Refugees From Ukraine’s Crypto Sector, Report Reveals With a war raging in their homeland, thousands of Ukrainians, including many involved in
Marcel Pechman5 hours agoHere’s how Bitcoin investors can trade the tension surrounding a U.S. government shutdownRumors of a US government shutdown impact asset prices, including Bitcoin. Here’s how BTC options trad
Ezra Reguerra10 hours agoTaiwan to restrict unregistered, noncompliant foreign crypto exchangesTaiwan’s crypto watchdog has drafted 10 guiding principles for virtual asset service providers operating in the country.275
Ripple CEO Warns of Harm to Crypto Industry if SEC Wins Lawsuit Over XRP
Ripple CEO Warns of Harm to Crypto Industry if SEC Wins Lawsuit Over XRP The CEO of Ripple Labs has warned of the harm to the crypto industry if the U.S. Securities and Exchange Co