The cryptocurrency market has been very volatile this week, with geopolitical tensions rising. The escalating conflict between the occupying entity and Hamas has raised concerns among investors in recent days. As evidenced by the recent performance of global financial markets, not to mention the cryptocurrency sector.
At the same time, amid escalating tensions. The occupying entity took action by freezing cryptocurrency accounts allegedly used by the Palestinian Hamas movement to raise funds. The occupation entity cooperated with the prominent cryptocurrency trading platform Binance to locate and close these accounts.
The occupation entity disrupts cryptocurrency financing for Hamas in response to the recent tournaments started by Hamas. The occupying entity declared a state of war against the group. The conflict led to heavy losses on his part.
In an attempt to disrupt the financial operations of Hamas. The cyber department of the Lahav 433 unit of the occupying entity was able to target the cryptocurrency accounts that the group uses to obtain funds through social media.
This operation was a collaborative endeavor in which Lahav 433 participated. The National Bureau for Combating Terrorist Financing (NBCTF) of the Ministry of Defense, Shin Bet, and other intelligence agencies.
At the same time, Hamas launched a fundraising campaign on various social platforms. To encourage the public to deposit cryptocurrencies into their accounts. In response, the occupying entity's cyber unit identified and froze these accounts. It is worth noting that the Binance platform. A prominent cryptocurrency trading platform, it played a crucial role in helping seize these funds.
Funds for the benefit of the national treasury amid the war between the occupying entity and Hamas. The funds seized from Hamas’s cryptocurrency accounts will be transferred to the national treasury of the occupying entity.
Although this step represents a desperate step in the occupying entity's efforts to disrupt Hamas' financing. However, it also raises questions about the broader implications for the regulation and security of cryptocurrencies in a world where digital assets are increasingly integrated into financial systems.
It is worth noting that in the month of March. The US Commodity Futures Trading Commission (CFTC) has filed a lawsuit against the CEO of Binance. Changpeng “CZ” Zhao, alleging that company executives were aware of “Hamas’ dealings” on the platform. Meanwhile, the occupying entity previously confiscated about 190 accounts on the Binance platform. On suspicion of having ties to Hamas groups since 2021.
