In First, Israeli Authorities Seize Digital Wallets Containing Bitcoin and Other Cryptocurrencies Destined for Hamas

The Israeli authorities have issued a seizure order targeting nearly $8 million worth of cryptocurrency holdings controlled by the Islamist terror group Hamas.

The order, signed by Defense Minister Benny Gantz on June 30, stated that the assets would be used to “perpetrate a severe terror crime.” Israel’s National Bureau for Counter Terror Financing (NBCTF) published extensive details of the Hamas crypto assets, including the names, ages and Palestinian Authority ID numbers for seven individuals who hold the crypto wallets containing the currencies, along with the various coins transacted.

Bitcoin holdings account for just under half of the Hamas crypto assets targeted by the Israeli seizure order.

“Notably, this is the first terrorism financing-related cryptocurrency seizure to include such a wide variety of cryptocurrencies, as the NBCTF seized not just Bitcoin, but also Ether, XRP, Tether, and others, following an investigation focused largely on analysis of [open-source intelligence], including social media posts, as well as blockchain data,” the crypto website Chainalysis observed.

While the dollar amounts specified in the seizure were fairly small, it will likely intensify concern that terrorist organizations are turning to cryptocurrencies as a new source of funding.

Yet some cryptocurrency analysts argue that the blockchain technology underlying Bitcoin — which transparently records transactions and duplicates them across many computers, rather than one central address — also exposes terror funders to greater risk.

The recent Hamas-related transactions “represent a tiny proportion of the several billion dollars worth of bitcoin transactions that occur each day,” a post on Elliptic’s blog remarked. “In addition, the transparency of the Bitcoin blockchain means that this activity can be monitored and tracked in real-time — unlike many of the other payment mechanisms employed by terrorists.”

Sourse: algemeiner.com

Start mining bitcoin now

Start trading bitcoin now

Category: News | Views: 217 | Added by: danyagames2007 | Tags: #Bitcoin #Bitcoin Price #BTC | Rating: 1.0/1
Total comments: 0
Name *:
Email *:
Code *: