Binance Assists Israel Authorities in Blocking Crypto Funds Linked to Hamas

Israeli Police, with Binance’s help, blocked Hamas-linked crypto accounts, funneling seized funds to the national treasury.
Binance Assists Israel Authorities in Blocking Crypto Funds Linked to Hamas
Binance Assists Israel Authorities in Blocking Crypto Funds Linked to Hamas

According to the local media outlet Calcalist, the Israel Police cyber section known as Lahav 443 said on Tuesday that it has taken steps to disable bitcoin accounts that were allegedly used for fundraising by the Gaza-based branch of the Palestinian militant group Hamas.

The military ministry, intelligence organizations, and the cryptocurrency exchange Binance helped the Israeli Police’s cyber section locate and shut down these accounts. The Israeli national treasury will get any money that is seized during this operation.

The CEO of Binance, Changpeng “CZ” Zhao, was sued by the U.S. Commodities Futures and Trading Commission (CFTC) back in March. According to the lawsuit, management of Binance were informed about transactions involving the group HAMAS on its platform.

Israeli officials have already taken control of roughly 190 Binance accounts since 2021 that were thought to have connections to terrorist groups before to this most recent move.

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