Israel Police Seize Cryptos Linked to Hamas Amid War
Israeli Police and Binance Freeze Accounts to Stop Hamas Funding Amidst Conflict.
The ongoing battle between Hamas and Israel has caused people worldwide to look closely at the Middle East, as sadness spreads due to rising numbers of victims from the conflict.
On October 10, Israeli police, with the help of other Israeli groups and Binance, froze and took crypto accounts on Binance, believed to be connected to Hamas, a local news source shared. This means they stopped these accounts from being able to use or move their digital money. This action is part of an effort to stop the funding of Hamas’s violent activities. The money that was taken will be held by the Israeli government.
Binance, a big player in the crypto world, has found itself in a tough spot before regarding Hamas. The United States has taken legal actions against Changpeng Zhao, Binance's leader, accusing him of allowing Hamas to use his platform for their money matters in March 2023. Binance has also helped Israel fight against “terror financing” before, freezing 190 accounts in 2021 linked to harmful groups.
Binance states, “Our team has been working non-stop to help stop terror financing. We want to keep the blockchain system and the world safe through our active work.”
While this financial drama unfolds, sad and violent events continue in Gaza, affecting many innocent people. The financial world and people everywhere are watching closely and discussing the impact and legitimacy of the tragic Hamas-Israel clash.
