The Israel Police cyber unit, Lahav 443, said on Tuesday that it froze cryptocurrency accounts allegedly used by the Gaza-based Palestinian militant group Hamas for fundraising.

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Fast Facts

  • The crackdown, assisted by the National Headquarters for Economic Warfare, is part of a broader effort to stop the fund flows to the militant group. 
  • The Israel Police said on X (formerly Twitter) that Hamas launched a crypto fundraising campaign after the start of the recent conflict, asking the public for crypto donations.
  • Israeli authorities have reportedly urged the world’s largest crypto exchange, Binance, to withdraw the seized funds into Israel’s state treasury.
  • Israel declared war on Hamas Saturday after the militant group carried out an attack causing at least 900 deaths in Israel, prompting a retaliation airstrike that killed at least 687 people in Gaza.
  • Crypto has been a fundraising source in the ongoing Russo-Ukrainian war for both sides.

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