The Israel Ministry of defence has authorized the seizure of 84 digital wallets reportedly connected to Hamas.
Defence Minister Benny Gantz approved the confiscation of the crypto addresses after a joint operation “uncovered a web of electronic wallets” used by the Palestinian group to raise funds for its operation. According to a recent report by the Times of Israel.
The cryptocurrencies seized include Bitcoin, Ripple, Ethereum, Dogecoin and stable coin Tether.
“The intelligence, technological and legal tools that enable us to get our hands on terrorists’ money around the world constitute an operational breakthrough,” Defence Minister Gantz said.
CEO of Israeli Bitcoin Association Noa Mashiah believes that the seizure “proves that Bitcoin is safe”
“The seizure and forfeiture of Hamas’s donations proves that Bitcoin is a safe currency,” Mashiah said. “Criminals who make use of this financial system will find out the hard way that the open transaction log, the blockchain, will expose them and allow law enforcement agencies to act against them.”
She called the seizure “a significant improvement over the anti-money laundering ban and also over international bank accounts hidden behind a bank secrecy wall.” The news only further proves that Israeli regulators should “adopt and use” Bitcoin and other digital currencies, “as it makes it possible to expose the bad and do good with the.”
In a similar operation last year, the US Department of Justice confiscated digital wallets linked to al-Qaida and the Islamic State group (ISIS). The impounded wallets contained cryptocurrencies worth millions of dollars.