- Israeli police and Binance have frozen cryptocurrency accounts linked to Hamas, used to fund terrorist activities during recent attacks
- Binance played a key role in identifying and deactivating these accounts and expressed its commitment to blockchain safety
- In a joint operation with British authorities, Israeli police also seized a Barclays Bank account used for malicious donations.
Israel’s police Cyber Unit yesterday announced that it had successfully frozen several cryptocurrency accounts associated with Hamas which launched a savage assault on Gaza this weekend. The unit worked in collaboration with national security agencies and crypto exchange Binance to identify and deactivate these accounts, which were confirmed to be established by Hamas and had been active in fundraising via various social media platforms since the attacks began. Israel’s Police Cyber Unit also worked with British law enforcement to freeze a Barclays bank account which Hamas had been using for donations.
Binance and Barclays Accounts Frozen
Binance revealed the news in a news piece yesterday, saying that it played a crucial role in identifying and deactivating accounts associated with terrorist activities, saying that it is “committed to supporting the safety and security of the blockchain ecosystem and the global community through our proactive work.”
Israeli police revealed that the seized accounts were established by Hamas and were actively engaged in fundraising for terrorist organizations through various social media platforms since Saturday.
In a joint operation with Israel’s Police Cyber Unit and British authorities, a Barclays Bank account in the UK, also used for collecting donations with malicious intent, was successfully frozen alongside the Binance accounts. While Binance has opened up about its role in stifling fundraising attempts, Barclays has yet to comment.
Terror Groups Cutting Back on Crypto Fundraising
The use of cryptocurrencies as a means to circumvent international sanctions by the likes of Hamas is no secret, although cryptocurrency donations typically pale in comparison to donations in fiat currencies. Hamas initiated a call for crypto donations in February 2019 to evade sanctions although it halted such donations in April this year.
In June, the Israeli government seized nearly $1.7 million in crypto associated with Hezbollah and the Iranian paramilitary Revolutionary Guard’s elite Quds Force, both designated as terrorist organizations by the United States.
