Israeli authorities are continuing their efforts to curb individuals and companies allegedly linked to terrorist financing. They recently seized just over $840,000 in digital assets from such a company.
According to a recent local report, Defence Minister Benny Grantz signed the seizure order. The report indicated that the total amount was NIS 2.6 million (worth approximately $840,000) in undisclosed crypto assets.
The funds were reportedly linked to the al-Mathaddon exchange, owned by the Malach family. Some sources claim that the latter has deep ties to Hamas in Gaza.
This is the second similar cryptocurrency seizure in the past few months after Gantz oversaw the seizure of 150 digital wallets, also belonging to al-Mathaddon.
Unnamed sources said the company stepped up its activities after the assassination of Hamed Ahmed Khundari (also accused of terrorist financing), and the funds in question were on their way to Hamas.
"We will continue to pursue terrorist funds. The impact of Hamas and the terrorist organisation's ability to circumvent traditional fund transfer pathways through digital currency is an important tool in the evolving security system." - Gantz commented.
Earlier, Israel's Anti-Terrorist Financing and Money Laundering Authority announced that it plans to impose new regulations on certain digital financial products, including cryptocurrencies. It aims to reduce the use of crypto in criminal activity and terrorist financing.
05/01/2022 - Mr.Advice NEWS