Israeli authorities have reportedly seized 190 Binance accounts with ties to terrorist groups since 2021, according to Reuters.
Reuters reported that two of those accounts were linked to Islamic State (ISIS) and that almost all of the other accounts were owned by three companies and firms with ties to Hamas.
Although Reuters was unable to determine the total amount of cryptocurrency seized across those 190 accounts, it did note that Israel鈥檚 National Bureau for Counter Terror Financing (NBCTF) disclosed in April that it had seized cryptocurrency worth more than $137,000 from 80 Binance accounts belonging to the same three firms.
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The NBCTF said that those accounts were the property of 鈥渢errorist organizations.鈥� However, a representative for one of the companies 鈥� Al Mutahadun For Exchange 鈥� said that the firm does not use cryptocurrency and only works with fiat money.
One of the benefits of crypto payments is that they are not easily traced back to the individual. Although every transaction is noted on the blockchain, a person鈥檚 identity is not linked to their crypto address. Owing to the decentralisation and anonymity features of cryptocurrencies, illegal transactions cannot be regulated.听 This makes crypto an obvious choice for individuals looking to find terrorist activities.
Other reports from last year inferred that Israel seized at least $33,500 and $750,000 of cryptocurrency from Hamas-linked crypto wallets on other occasions.
