Israeli authorities have frozen over 100 accounts on the world’s largest crypto exchange, Binance, amid suspicions of links to Hamas, the Palestinian militant group.
According to Financial Times, the move comes in response to the October 7 attacks by Hamas. The aim is to thwart the group’s funding efforts, which have escalated since the militant group initiated conflict in Israel 10 days ago.
Israeli law enforcement is also seeking information on an additional 200 crypto accounts, majority of which are also held on Binance.
The classification of Hamas as a terrorist organization by numerous jurisdictions worldwide, including the U.S. and U.K., has led to a concerted effort to block fund flows to the group. Israeli authorities are working closely with the public and crypto firms in this endeavor.
Confirming its cooperation with Israeli authorities, Binance stated last week that it was actively working to block terror financing. The company also acknowledged the blocking of a “small number” of accounts linked to illicit funds.
Stablecoin issuer Tether also revealed that it had frozen funds in 32 cryptocurrency addresses linked to terrorism and warfare in Israel and Ukraine, in collaboration with Israel’s National Bureau for Counter Terror Financing.
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