$7.7 Million Crypto Seized By Israel In Suspect To Be Controlled By Hamas Terrorist Organization
Israel’s National Bureau detected transactions which are involved in the funding to the Hamas Terrorist Organization. They seized $7.7 million of Bitcoin & DogeCoin.
According to a recent analysis, it was found that some terrorist organizations are using Cryptocurrency at a wide level. The Hamas Terrorist Organization is found to use all types of Cryptocurrencies like Bitcoin, Ethereum, DogeCoin, Tether Monero, Ripple etc.
Israel’s National Bureau Investigation team allegedly reported about a crypto transaction that is suspected to be used by a terrorist organisation.
In their investigation they found 84 crypto addresses which have links with terrorist organisation Hamas.
So because of this doubt of terrorist funding, they ordered to seize the whole crypto assets related to that account which were worth around $7.7 million.
According to the Israeli government, these 84 Crypto address wallets are linked with that crypto address which had connections in terrorist activities earlier.
“Some of the addresses are part of larger services and not all of these funds may be associated with terrorism. When calculating this figure we excluded funds sent to addresses known to be used by services such as exchanges to receive deposits from multiple users.”
Investigation authorities also figured out that there are many addresses which were previously found to have links with the crypto address which were used by Al-Qassam Brigades – known to be the military wing of Hamas.
In January 2019 and May 2021, these groups collected funding through bitcoin worth more than $100,000 in BTC.
They also emphasized over the point, there is a huge chance that not all funds are involved in the funding of terrorist organizations. There may be some innocent people who don’t know about their transactions whether they are going for normal users or for something worse”,The London-based blockchain analysis provider – Elliptic Ltd reported
Here is one thing we can notice, Government authorities are more active regarding illegal activities and now we can say we are in good hands with the ruling authorities. Even they are able to detect such kinds of things which are not easy, while they got help from the Elliptic Ltd, The London-based blockchain analysis provider.
And also we can see, a perfect regulation framework can control the flow of funds, for example in this case they seized the fund because of their regulation framework over Cryptocurrency Exchange.
Read also: DogeCoin Will Not Overtake Visa Scalability : Elon Musk
