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Israeli Minister of Defense seizes millions in cryptocurrency indented for Hamas

The terror organization has been trying to keep under the radar by obtaining its funding through a Gaza digital exchange company


Members of the Palestinian security forces loyal to Hamas during a military graduation ceremony in Gaza City, on December 12, 2021. Photo by Majdi Fathi/NurPhoto.
Members of the Palestinian security forces loyal to Hamas during a military graduation ceremony in Gaza City, on December 12, 2021. Photo by Majdi Fathi/NurPhoto.

Israeli Minister of Defense, Benny Gantz signed a seizure order for cryptocurrency amounting to tens of thousands of NIS from 12 digital accounts, in a joint operation of the National Bureau for Counter Terror Financing in Israel (NBCTF), the police’s National Cyber Unit , and the IDF’s Intelligence Division.


According to the Ministry of Defense, the forces seized some 30 digital wallets which belong to businesses that assisted a currency exchange company owned by the Shamlach family and designated as a terror organization.


The Shamlach family from Gaza has been assisting the Hamas terror organization – particularly its military arm – by transferring tens of millions of dollars per year through its cryptocurrency company,the Al'matchadun currency exchange, and other family-owned companies. As such, their companies were designated terror organizations.


"We continue to expand the tools to cope with terror and the companies that support it. I commend the organizations involved for their intelligence, operational, and legal cooperation. We will continue to take all the measures necessary to fight terror," said DM Gantz in a statement.


This is the third time in the past year alone that Gantz signed a seizure order for cryptocurrency intended to assist Hamas, which was transferred through Al'matchadun. In late December 2021 Israel seized approximately NIS 2.6 million. In July of that year, some 150 digital wallets were seized.

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