Israeli Authorities Close Over 100 Binance Accounts Over Funding Suspicions
Israeli law enforcement agencies have reportedly shut down more than 100 accounts on global crypto exchange Binance in response to Hamas’ recent attack on Israel. The closures were ordered in an effort to cut off funding to the Palestinian Islamist group, and millions worth of crypto assets were seized as well. Hamas had previously urged its supporters to send Bitcoin (BTC) to evade US sanctions.
The Financial Times reports that Israeli authorities have also requested information on approximately 200 additional crypto accounts, with the majority of them allegedly being set up on Binance. The exchange confirmed that it had blocked “a small number” of accounts.
Tether, the issuer of stablecoin USDT, also announced that it froze 32 addresses linked to terrorism and warfare in Israel and Ukraine, containing over $870,000.
Tether’s CEO emphasized that cryptocurrency is not a tool for criminals and expressed their commitment to responsible blockchain technology use.
Hot Take: Israeli Authorities Take Action Against Crypto Funding for Hamas
Israeli law enforcement agencies have taken swift action against the potential use of cryptocurrency for funding terrorist activities. By closing over 100 Binance accounts and freezing millions worth of crypto assets, they aim to sever financial support to Hamas. This move highlights the ongoing challenge of combating illicit activities in the crypto space and underscores the importance of regulatory cooperation between global exchanges and law enforcement agencies. While some argue that cryptocurrency can be misused by criminals, initiatives like Tether’s efforts to freeze addresses linked to terrorism demonstrate the industry’s commitment to maintaining security and financial integrity.
By
By
By
By
