The Israel Defense Forces will begin seizing cryptocurrency accounts used by Hamas to raise money, Defense Minister Benny Gantz said Thursday.
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Gantz ordered security forces to seize the accounts after a joint operation "uncovered a web of electronic wallets" used by the terrorist organization to raise funds using bitcoin and other cryptocurrencies, the ministry said.
It said Hamas has been waging an online campaign to raise donations, efforts that accelerated after the 11-day Gaza war in May. Cryptocurrencies such as bitcoin are favored for illicit transactions because they are perceived as hard to trace.
"The intelligence, technological and legal tools that enable us to seize the terrorists' funds around the world constitute an operational breakthrough," Gantz was quoted as saying.
Last year, the US Justice Department said it had seized millions of dollars from cryptocurrency accounts that terrorist groups, including al-Qaida and the Islamic State, relied on to finance their organizations and violent plots.
The department said it had confiscated about $2 million, in addition to more than 300 cryptocurrency accounts, four websites and four Facebook pages related to the schemes.
One prong of the US investigation targeted Hamas. Law enforcement officials seized more than 150 cryptocurrency accounts that they say laundered funds to and from accounts operated by the group.
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