In response to the increased scrutiny of cryptocurrencies by Israeli authorities, Binance has blocked a further 100 accounts linked to the Palestinian militant group, Hamas, as reported on Tuesday. This move is part of a broader campaign by Israel against digital currency financing for militant organizations. The cryptocurrency exchange also confirmed that it has been asked to provide data on an additional 200 crypto accounts, most of which are held on its platform. These restrictions have been in place since the summer of 2023.
An anonymous Binance employee emphasized the importance of tracing customers connected to each Hamas donation address. While Binance acknowledged its involvement, it only admitted to blocking a “small number” of accounts without providing specific details.
The Israeli government’s focus on cryptocurrencies has intensified following a severe Hamas assault from the Gaza Strip earlier this month. In June 2023, Israel confiscated millions in cryptocurrencies associated with Iran’s Quds Force and Hezbollah, an operation Defense Minister Yoav Gallant described as the first significant crypto seizure, with assistance from Mossad, military intelligence, and local law enforcement.
Simultaneously, Tether, known for the USDT stablecoin, has frozen over 30 addresses tied to illegal activities in Israel and Ukraine. The blocked addresses accumulated a total of $873,118. This action was taken in close collaboration with Israel’s National Bureau for Counter Terror Financing (NBCTF).
