First, Israel seizes crypto accounts linked to Iran’s Quds Force, Hezbollah

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Defense Minister Yoav Gallant revealed on Tuesday that Israel had seized digital wallets linked to Iran’s Islamic Revolutionary Guard Corps’ Al-Quds Force and the Iran-backed Hezbollah terror group, confiscating millions of dollars in cryptocurrency.

Speaking at a conference hosted by the ministry’s National Counter Terrorist Financing Bureau (NBCTF), Gallant said the operation a few days ago was the first of its kind against crypto assets. -currencies linked to the IRGC and the Lebanese terrorist group Hezbollah. In the past, Israel has seized dozens of digital wallets linked to the Hamas terror group.

“A few days ago, a vast operation which set a precedent – to reveal a channel for the financing of terrorism with digital currencies – was concluded. It is the first incident of this magnitude, in which an infrastructure directed by Hezbollah and the Iranian Quds Force which transferred millions of dollars for use by terrorist elements has been thwarted,” Gallant said.

He added that since the beginning of the year, members of Hezbollah, the IRGC’s Al-Quds Force and “Syrian elements” have been using cryptocurrency to finance their daily activities. The funding comes from a third party and is given to terrorist groups via money changers, Gallant said.

“Anyone who finances terrorism, or has a financial relationship with terrorists, should know they are a target, just like anyone who directs terrorism,” he warned, noting Iran’s involvement.

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“As you can see, this time too, there is a clear line behind the terror [financing] movements originating in Iran. Iran is the financier, trainer and propagator of terrorism against Israel and many countries around the world, both directly and through its border proxies,” Gallant said.

Defense Minister Yoav Gallant attends an event at the Knesset, June 13, 2023. (Yonatan Sindel/Flash90)

He said the NBCTF has been developing new tools with the Mossad spy agency, the IDF’s Military Intelligence Directorate, Israel Police and other agencies, to counter the financing of terrorist groups using crypto. -cash.

“I issued an order authorizing the seizure of the funds, their confiscation and the transfer of the money to the Treasury of the State of Israel. In doing so, we have effectively cut off the flow of terrorist funds along this route,” Gallant said.

In May, it was reported that Israel had seized 189 cryptocurrency accounts on the Binance exchange site linked to Palestinian and Islamist terrorist groups since 2021.

Cryptocurrencies ostensibly offer a high level of anonymity, which makes them particularly attractive for financing criminal activities or terrorism. Bitcoin has also come under criticism for using the currency on underground websites where people buy drugs and guns.

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