The Tel Aviv Magistrate Court reportedly issued a ruling allowing the Israeli government to seize all cryptocurrencies in more than 150 digital wallets that it blacklisted for allegedly funding terror groups.
According to a local Israeli media on December 18 reportIsraeli Defense Minister Benny Gantz says the court's December 15 ruling has already allowed authorities to seize another $33,500 from digital wallets linked to the Islamist militant group Hamas.
Prior to the court ruling, the Israeli authorities had only been legally allowed to seize digital assets with direct links to terrorist activities, but not additional funds in the same wallets. In December 2021, authorities seized $750,000 from the wallets.
The de facto ruling authority of the Palestinian Gaza Strip since 2007, Hamas is classified as a terrorist organization in whole or in part by several countries and international blocs, including the United States, the European Union, Israel, and the United Kingdom.
Starting in January 2019, Hamas began appealing to his followers to send funds using Bitcoin (BTC) as a means to combat sanctions and financial isolation.
Gantz signed an order on July 9, 2021, authorizing security forces to seize crypto accounts with suspected ties to the militant wing of Hamas.
Related: Israel's Chief Economist Presents Recommendations for Crypto Regulation
Authorities revealed at the time that the accounts contained Tether (USDT), ether (ETH), Dogecoin (DOGE), XRP (XRP), Binance Coin (bnb), Zcash (ZEC), Litecoin (LTC) and other altcoins.
In February, 30 crypto wallets from 12 Hamas-linked exchange accounts were seized by Israeli authorities also.
The exact value of the seized crypto assets was not disclosed publicly.
Crypto has been shown to have a relatively minor role in fundraising for terrorist groups. In early 2022, blockchain analytics firm Chainalysis determined just one small portion of crypto funds are used in criminal activities.
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