Israeli defense ministry seizes crypto linked to the terror group Hamas.

Israeli authorities have reportedly cracked down on cryptocurrency wallets that have been used to fund the terror group Hamas. According to the country’s Defense Ministry, the seizure has dealt a big blow to the terror group, which has turned to digital assets as Israeli authorities continue to crack down on the group’s funding channels. Defense Minister Beni Gantz signed the order to seize the digital currencies, which the Ministry claims amount to dozens of thousands of shekels. 

The government seized the assets from 12 digital accounts.

The government seized the assets from 12 digital accounts, including about 30 wallets belonging to businesses that were tied to the Al’matchadun currency exchange. According to the Ministry’s statement, the Shamlach family owned the exchange, whose funds the government has been pursuing for years. The Israeli Ministry has previously declared the family as a terror organization. 

“The Shamlach family assists the Hamas terror organization through the crypto exchange companies it owns, particularly its military arm, by transferring funds in scopes of dozens of million dollars annually,” the Defense Ministry’s statement said.

Israeli authorities continue to seize crypto assets.

This is the third time in a year that Israeli authorities have seized cryptocurrencies linked to Hamas, a terror group that now rules over the Gaza Strip. In January, the Ministry claimed to have seized 2.6 million shekels ($830,000) in crypto from an exchange run by Hamas. However, at the time, a Hamas official claimed that the government exaggerated the size of the capture. It also claimed that the crackdown affected innocent people. Speaking on condition of anonymity, the official stated, “We are not denying that donations from all over the world are deposited in these accounts, but some accounts are for people who have nothing to do with Hamas whatsoever.”