Tech
Israel Orders Freeze of Hamas-Linked Crypto Wallets: Report
The Israeli government has ordered the freezing of cryptocurrency wallets associated with the militant group Hamas in order to cut off their blockchain-based funds, analytics platform Elliptic reported on Tuesday, citing a Hebrew-language news source.
The news outlet said Hamas had previously asked on social media for people to donate cryptocurrency to support its efforts.
Blockchain-based currencies like Bitcoin and Ether can be sent from all over the world through centralized or decentralized exchanges. Those who send funds to terrorist groups are often difficult to identify due to the anonymous nature of crypto wallets.
Elliptic reported that Hamas had indeed solicited cryptocurrency donations when it attacked Israel in the past, but it was a very small percentage of its funds. Although the group raised thousands of dollars in cryptocurrency donations between 2019 and 2022, according to Elliptic statistics, Hamas itself announced in April this year that it would stop accepting cryptocurrency donations, claiming that its donors would have been damaged. This came after efforts by Israel and the United States to cut off the group’s crypto funding.
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Since Hamas’ October 7 attack, Israel has bombarded Gaza with airstrikes and cut off food, water and electricity for Palestinian civilians as it pressures Hamas to return Israeli civilians it had taken hostage. More than 1,000 people have been killed on both sides and Palestinians have also been ordered to evacuate southern Gaza as Israel potentially prepares for a ground operation.
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