Israeli authorities have made a significant breakthrough in combating terrorism financing by disrupting the cryptocurrency infrastructure used by Hezbollah and Iran’s Quds Force. This operation, led by Israel’s National Bureau for Counter Terror Financing (NBCTF), resulted in the seizure of approximately $1.7 million worth of cryptocurrency, a first for these organizations. Chainalysis tools were instrumental in this achievement. The announcement highlights the tactics employed by Hezbollah and other terrorist groups in using cryptocurrencies for illicit activities.
Traditionally, Hezbollah relied on financial support from Iran, but there has been a shift towards cryptocurrencies. Funds were transferred through financial facilitators and hawala services before reaching Hezbollah-controlled addresses at mainstream cryptocurrency exchanges. Previous analyses focused on small donations, not funding from state sponsors like Iran. These findings offer valuable insights into the evolving tactics of terrorism financing.
The NBCTF’s seizure targeted wallets controlled by Tawfiq Muhammad Said Al-Law, a hawala operator in Syria, who collaborated with senior Hezbollah operators. Muhammad Qasim Al-Bazzal and Muhammad Ja’far Qasir, both sanctioned by the Office of Foreign Assets Control, played crucial roles in managing financial disbursements from Iran’s Quds Force.
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