- Tel Aviv’s Magistrate Court has allowed authorities to seize ‘all the crypto assets’ from over 150 terrorism- funding wallets.
- On Dec 15, the court allowed the government to seize $33,500 from crypto wallets.
- These crypto wallets are apparently connected with Islamist militant group Hamas.
According to a local Israeli media outlet, Tel Aviv’s Magistrate Court has allowed Israel’s authorities to seize ‘all the crypto assets’ from over 150 digital wallets that were linked to terrorism funding.
As per the report, Israeli Defense Minister Benny Gantz has claimed that the court presented a ruling on December 15 which has allowed the government to seize $33,500 from crypto wallets that are allegedly connected with Islamist militant group Hamas.
Before the court order came in place, Israeli government had only been allowed to confiscate crypto assets that were directly limited to terrorist activity. However, authorities were not allowed to seize the additional assets that were kept in the same wallets. Thus, back in December, last year, authorities had confiscated $750,000 from the wallets.
Hamas which is identified as a terrorist organization by international blocs including the US, European Union, Israel and the UK had asked its supporters to grant funds using cryptos and Bitcoin through Coinbase in early 2019.
In February, 30 crypto wallets from 12 crypto exchanges that were linked to Hamas were confiscated by the Isareli government. The seizure was made after the minister Gantz signed a seizure order for assets from 12 digital accounts for flouting terror-financing laws. Note that, it was the third seizure of illegal cryptos in 2022 at the time of the order.
Apparently, these 30 digital wallets were linked to business groups that were aiding the Al Mutahadun currency exchange firm, owned by the Shamlach family of Gaza. Note that, Al Mutahadun is one of two companies designated as terrorist organizations in 2021 by the Israeli government.
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