In a significant crackdown on terrorism-linked cryptocurrency accounts, Israel has confiscated approximately 190 accounts from Binance, the world’s largest crypto exchange by trading volumes. Reuters reports that according to documents from the country’s counter-terror authorities, two of these accounts were connected to Islamic State, while many others were owned by Palestinian firms associated with the Islamist Hamas group.
Read CRYPTONEWSLAND onThe National Bureau for Counter Terror Financing (NBCTF) in Israel seized two Binance accounts and their contents on January 12, as stated on the NBCTF’s website. The confiscation aimed to “thwart the activity” of the Islamic State and “impair its ability to further its goals.” However, the NBCTF document, which had not been previously disclosed, did not reveal the value of the seized cryptocurrency or how the accounts were linked to Islamic State.
Binance has not yet responded to Reuters’ requests for comment. Similarly, Israel’s defense ministry, which oversees the NBCTF, has not immediately responded to inquiries.
Under Israeli law, the defense minister is authorized to order the seizure and confiscation of assets believed to be related to terrorism. The recent seizures by the NBCTF underscore the global call for stricter regulations on crypto exchanges to prevent illicit activities, ranging from money laundering to terrorism financing. These actions highlight the increasing focus on crypto companies by governments in their attempts to curb illegal activities and disrupt terror financing.
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