Web3 Firms Launch Crypto Aid Israel to Support Those Affected by Conflict with Hamas
A group of companies from the Web3 space, including the Israeli Blockchain Association, have come together to launch Crypto Aid Israel. The initiative aims to raise cryptocurrency donations to help thousands of Israelis affected by the surprise attack from Palestinian militants in Gaza.
Addressing the Humanitarian Crisis
Crypto Aid Israel was launched just two days after the start of the Hamas offensive. Its goal is to provide much-needed humanitarian assistance to displaced citizens. The initiative is supported by platforms such as Cryptojungle, Collider Ventures, 42studio, and Marketacross.
Crypto Donations Accepted
The fundraiser accepts donations in over a dozen cryptocurrencies and stablecoins, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC). The collected funds will be stored and managed by crypto custody firm Fireblocks, with the assistance of Israeli banks. So far, over $50,000 has been raised.
Freezing Hamas’ Cryptocurrency Accounts
In response to the conflict, Israeli law enforcement, along with the Defense Ministry and intelligence agencies, are working to freeze cryptocurrency accounts linked to Hamas. This effort is being led by the cyber branch of the Israel Police’s Lahav 433 unit. They are also collaborating with international authorities, such as the U.K. police, to shut down related bank accounts.
Hot Take: Crypto Aid Israel Provides Relief for Israelis Affected by Conflict
Amidst the ongoing conflict between Israel and Hamas, members of Israel’s Web3 community have launched Crypto Aid Israel. The initiative aims to alleviate the humanitarian crisis faced by thousands of displaced Israelis through cryptocurrency donations. Supported by various Web3 companies, Crypto Aid Israel has already raised over $50,000 in funds. Additionally, efforts are being made to freeze cryptocurrency accounts associated with Hamas to prevent further fundraising. By leveraging the power of crypto, Crypto Aid Israel is providing much-needed support to those affected by the conflict.
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