Israeli authorities have reportedly seized 190 Binance accounts with ties to terrorist groups since 2021, according to Reuters.
Reuters reported that two of those accounts were linked to Islamic State (ISIS) and that almost all of the other accounts were owned by three companies and firms with ties to Hamas.
Although Reuters was unable to determine the total amount of cryptocurrency seized across those 190 accounts, it did note that Israel’s National Bureau for Counter Terror Financing (NBCTF) disclosed in April that it had seized cryptocurrency worth more than $137,000 from 80 Binance accounts belonging to the same three firms.
More from News
- Project Europe Reveals Six Startups to be Included in the Organisation’s First Cohort
- ChatGPT Leaks Private Chats On Google
- Comp AI Secures $2.6M Pre-Seed to Disrupt SOC 2 Market
- Cybersecurity Challenges During Disasters: How Can Startups Help?
- Experts Share: How Will The Rise Of AI Call Centres Impact Entry Level Jobs?
- Air Traffic Fault Causes Delays Across UK, Here’s Why
- Google Signs EU AI Code Of Practice, Here’s What That Means
- Saudi Arabia Invests $6 Billion In Syria: Why Should This Investment Strategy Matter to UK and European Founders?
The NBCTF said that those accounts were the property of “terrorist organizations.” However, a representative for one of the companies — Al Mutahadun For Exchange — said that the firm does not use cryptocurrency and only works with fiat money.
One of the benefits of crypto payments is that they are not easily traced back to the individual. Although every transaction is noted on the blockchain, a person’s identity is not linked to their crypto address. Owing to the decentralisation and anonymity features of cryptocurrencies, illegal transactions cannot be regulated. This makes crypto an obvious choice for individuals looking to find terrorist activities.
Other reports from last year inferred that Israel seized at least $33,500 and $750,000 of cryptocurrency from Hamas-linked crypto wallets on other occasions.