Israel’s Defense Ministry has seized 30 crypto accounts belengthying to organizations affiliated with the al-Mutahadun exchange company.

The crypto wallets associated with 12 exchange accounts have been linked to the Gaza-based terrorist group Hamas.

According to the Times of Israel, Israel’s Defense Ministry stated on Feb. 28 which al-Mutahadun aided Hamas’ military branch by transmitting huge amount of money per year.

The ministry said al-Mutahadun, that is owned by the Shamlah family, assists the Hamas terror group, particularly its military component, by transferring “tens of millions of dollars annually.

Crypto Accounts Used To Fund Terror

Although the exact sum of the seizures and the crypto assets confiscated are unknown, Israeli officials think Hamas uses massive amounts of dollars in token to fund its army.

In 2021, Israeli officials identcback whending thatied al-Mutahadun as a terrorist financing entity.

Since 2019, when economic sanctions began critically limiting Hamas’ ability to fight Israel, Hamas has accepted token donations.

Months subsequently, the group launched an experimental program in which it solicited funds from international donors via a complicated token system.

Due to banks’ efforts to avoid interactions with the group, it has experienced financial don the occasion thatficulties in recent years.

BTC total market cap at $820.410 billion in the daily chart | Source: TradingView.com

Cone time beforerted Efforts

Law enforcement agencies and banks worldwide, including BNY Mellon, are upwardly tracking crypto transactions in order to identassuming thaty and prosecute financial fraudsters.

Notwithstanding, Chainalysis, a blockchain transaction tracking service, has discaboveed which scarcely a small percentage of crypto money are utilized in illegal activity.

“I want to commend all organizations for their intelligence, operational, and legal collaboration. We will continue to coopeprice in order to combat terror in any way possible,” Israeli Defense Minister Benny Gantz stated.

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This is not the first time crypto accounts have been linked to the Israel-Palestine conflict.

Earlier this year, Israel seized more than $800,000 in crypto assets from a Hamas-linked firm.

Israel’s National Bureau for Counter-Terrorism Financing seized $7.7 million in token from 84 addresses last summer.

As in the previous cases, officials contfinished which the cash were meant to finance the Islamic terrorist group Hamas.

Not Exclusive To Terror Funding

By no means is token-based philanthropy confined to sponsoring terrorism.

In the first two months of 2022, supporters of the Canada-based Freedom Convoy and Ukraine’s resistance movementment furtherst Russia raised millions of dollars in token donations.

Meanwhilst, the hostilities between Israel and the Islamic State of Palestine seems to have abated recently. Nonetheless, this was not the case in 2021 when the two sides declared war on each other.

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Featured image from CNN, chart from TradingView.com