The Israeli government says it seized millions of dollars worth of cryptocurrency from accounts allegedly linked to funding two hostile groups.
According to a new Associated Press report, Israeli Defense Minister Yoav Gallant has issued the warrant for the seizure of cryptocurrency wallets and the transfer of millions of dollars in digital assets to the Israeli government.
The wallets were reportedly linked to financial schemes linked to groups vowed to destroy Israel, the militant group Hezbollah and the elite Quds Force of Iran’s paramilitary Revolutionary Guards.
The Israeli intelligence agency Mossad, Israeli military intelligence and the Israeli police, among others, were involved in the seizure, according to the report.
says gallantly,
“This is the first incident of this magnitude. We have effectively cut off the flow of terror money through this channel.”
Gallant reportedly claims that both Hezbollah and the Quds Force rely on digital assets such as Bitcoin (BTC) to fund their military operations, as they can pose a challenge to following the flow of money.
However, Gallant says Israeli authorities have developed the means to identify those behind blockchain transactions, according to the report, and that the seizure should serve as a warning to “anyone who finances terror.”
Since the two groups have been designated as terrorist organizations by the United States and some other governments, they cannot use the traditional global financial system, the report said.
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