Israel Seizes Hamas Crypto Accounts With Help From Binance

Cryptocurrency accounts associated with the Palestinian group Hamas have been halted by the Israeli police, according to a local news report.

Local news source Calcalist on Tuesday, referenced an official announcement, reporting that following an attack on Israel by Hamas over the past weekend, escalating into full-blown conflict, Israel's defense chief has mandated a total blockade of the Palestinian territory, Gaza.

Collaborative efforts between the digital division of the Israel Police's Lahav 433 and the nation's defense ministry, intelligence sectors, and the cryptocurrency platform Binance were instrumental in pinpointing the accounts in focus. The report further states that the confiscated funds will be directed to Israel's national coffers.

In light of these developments, it's worth noting the upcoming Benzinga's Future of Digital Assets conference on Nov. 14, which will delve into the intricate dynamics of the digital currency world.

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Earlier in March, the U.S. Commodities Futures and Trading Commission (CFTC) initiated legal proceedings against Binance's chief, Changpeng Zhao, stating that the company's executives were aware of "HAMAS transactions" on their platform.

Since 2021, Israeli officials have taken control of approximately 190 Binance accounts suspected of ties to terrorist organizations.

When asked for a comment, a Binance spokesperson told Benzinga that the data it uses to pinpoint individuals, addresses, and infrastructures associated with specific organizations stems from intelligence provided by law enforcement and investigative tools it has developed. 

"Over the past few days, our team has been working in real-time, around the clock to support ongoing efforts to combat terror financing. We are committed to ensuring the safety and security not just of the blockchain ecosystem, but also the global community, through our proactive work," the spokesperson added.

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