According to a recent Reuters report, Israeli authorities have seized almost 190 Binance accounts that were allegedly linked to terrorist groups like Hamas and Daesh since 2021.
The National Bureau for Counter-Terror Financing (NBCTF), a counter-terrorism division of the Israeli Defense Ministry, confiscated an undisclosed amount of crypto in January from two accounts with links to Daesh, a terrorist group based in Syria and Iraq.
Other government records dating back to 2021 alleged that over 100 seized Binance accounts had ties to Hamas, an armed Palestinian group that has often clashed with the Israeli Defense Forces.
Israeli authorities seized the funds to prevent Daesh’s activities and impair its ability to achieve its goals, according to the NBCTF.
Israeli law allows the defense minister to confiscate terrorist-affiliated assets as determined by the ministry. Binance, which has a 700-member compliance team processing 1,300 law enforcement requests weekly, says that it collaborates with law enforcement and that bad actors do not register accounts under the names of their criminal enterprises.
Mohammad Ali is a fintech and cryptocurrency writer who has been covering the intersection of finance and technology for several years. Ali has a deep understanding of the financial industry and the ways in which technology is changing it, with a special focus on the rise of digital currencies and blockchain technology.
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