Israeli Defense Minister seized $800K worth of crypto, against criminal activities

The defence minister of Israel didn’t waste a penny of a second to seize the $800,000 worth of crypto assets, that was believed to transfer for the terrorist funding. 

In the present time, bad actors are highly active in the crypto industry because crypto assets are helpful to provide anonymity to the people to facilitate any kind of illegal activities. In particular, people are using Monero, Zcash, Dash like assets to facilitate illegal fund transactions. 

In the latest, The defence minister of Israel took sudden action against $800k worth of crypto assets to seize it. The main reason to seize the crypto assets was the chances of involvement in the funding to  Hamas.

According to available data on the internet, Hamas is a Palestinian Sunni-Islamic fundamentalist and there are many allegations on this organization like killing hundreds of people in Israeli and also many attacks. 

According to reports, it was believed that seized funds were in the way to fund Hamas to power the military activities of Hamas. 

It is believed that Gazan family-owned crypto exchanges facilitate funding to Hamas in crypto assets. The Officials labelled this exchange as a part of Hamas. Reportedly, this exchange facilitates funding annually to Hamas. 

National Headquarters on Terrorist Economic Counter-Terrorism at the Defence Ministry exposed this funding network of Hamas with the help of Israeli Defence Forces intelligence. 

According to source reports, it was found that addresses of crypto-assets were found to be involved in the relations & links with the addresses of the Gazan family, which was raising funds for Hamas to funds in Bitcoin and other crypto-assets. 

For a few years, the Gazan family-owned crypto exchanges was under the radar of the intelligence of the Israeli Defence services. 

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