Israel confiscates enemies cryptocurrency worth millions of dollars

By Lola Coin Jun 29, 202379Views

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The Israeli government has confiscated millions of dollars worth of cryptocurrency from accounts allegedly linked to financing two enemy groups, according to a report by the Associated Press. Israeli Defense Minister Yoav Gallant ordered the seizure of cryptocurrency wallets and the transfer of digital assets to the government. The wallets were associated with financial schemes connected to Hezbollah and the Iranian paramilitary Revolutionary Guard’s Quds Force, both of which are designated as terrorist organizations. Israeli intelligence agencies and the police were involved in the operation. Gallant claims that both groups use cryptocurrencies like Bitcoin to fund their military operations, but Israeli authorities have developed methods to trace blockchain transactions. The seizure is intended to serve as a warning to those financing terrorism.

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