Binance Assists Israeli Law Enforcement in Freezing Crypto Funds
Israeli law enforcement, with the support of Binance, launched an operation to target crypto addresses associated with the terrorist group Hamas. The operation was led by the Israeli Police Department and the National Counterterrorism Headquarters. It aimed to freeze funds raised by Hamas through crypto donations.
Hamas Raises Money Through Crypto Donations
Hamas launched a fundraising campaign on social media platforms following a recent attack, using the attention to raise money from radicals and supporters worldwide. The cyber unit from the Israeli Police traced the funds back to a crypto trading venue.
Binance’s Involvement in Freezing Terrorist Accounts
Binance had prior knowledge of Hamas’s operation on its platform. It assisted Israeli law enforcement in freezing nearly 200 accounts connected to Hamas and other terrorist groups. Binance emphasized its commitment to combating terror financing and ensuring the safety of the blockchain ecosystem and global community.
Escalation of Conflict Between Israel and Hamas
Following the recent attack, the conflict between Israel and Hamas intensified, with Israel declaring war on the terrorist organization. In response, Israel is expected to increase its offensive on the Gaza Strip. As a result, cooperation between Binance and Israeli law enforcement is likely to grow as Israel fights against Hamas across all sectors.
Hot Take: Disrupting Terrorist Financing Through Crypto Regulation
The collaboration between Binance and Israeli law enforcement highlights the importance of regulating cryptocurrencies to prevent their misuse for illicit activities like terror financing. By freezing terrorist accounts and targeting their sources of funding, authorities can disrupt their operations and enhance global security.
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