Escalation in the Israel-Palestinian Conflict
Tensions have risen as Hamas launched severe attacks from Gaza into Israel. This recent flare-up is considered one of the most significant escalations between Israel and Palestine in recent years.
Online Campaign for Crypto Donations
According to a Reuters report, as per Israeli police, Hamas took to social media to gather donations through cryptocurrency for its operations. Immediate action was taken by the Police Cyber Unit and the Ministry of Defense, with the help of Binance crypto exchange, to locate and seize these accounts. The seized funds will be redirected to the state treasury.
No Concrete Details Disclosed
The police’s statement did not specify the number of accounts frozen or the total value of the crypto assets seized.
Binance’s Collaborative Stance
Binance highlighted its ongoing collaboration with global law enforcement agencies. The spokesperson stated that they have been working tirelessly to assist in thwarting terror financing. The data utilized to identify individuals and entities associated with certain organizations is gathered through intelligence from law enforcement and other investigative tools.
Hamas and Cryptocurrency
Hamas had previously promoted cryptocurrency as a mode for fundraising. However, they announced in April that they would cease accepting donations via Bitcoin due to increased adversarial actions against their donors.
Israel’s Previous Actions on Crypto Accounts
Reuters highlighted that since 2021, Israel has frozen approximately 190 cryptocurrency accounts on Binance, some of which were believed to be linked to the Islamic State, and many were suspected to be connected to Palestinian firms associated with Hamas.