For the first time since the October 7 massacre, Israeli victims without American citizenship are joining a massive lawsuit in the United States. The lawsuit, filed in the California Supreme Court, targets Changpeng Zhao, founder of the world's largest cryptocurrency exchange, Binance, alleging his company's services helped finance the terrorist assault that claimed numerous lives.

According to the plaintiffs, Zhao provided cryptocurrency services to the Hamas terror organization in violation of international sanctions, thereby enabling and assisting in financing the terror attack. In their complaint, the plaintiffs seek damages for wrongful death, injuries, physical and mental harm, loss of future income, and medical treatment funding. Additionally, they are seeking punitive damages intended to deter and prevent similar conduct in the future.

Changpeng Zhao, a Canadian, founder of Binance, sentenced to four months in US prison after pleading guilty to money laundering charge. According to investigations, Binance failed to prevent transactions by movements such as the Islamic State group, al-Qaeda or Hamas. pic.twitter.com/orWRsPQnZp

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Attorney Dr. Gideon Fisher explains: "Unlike the two previous lawsuits we filed in the US regarding October 7, which total $1 billion, this current lawsuit is against an international business figure whose wealth is estimated at tens of billions of dollars, and the lawsuit isn't just on behalf of American victims – but also on behalf of Israelis without American connections. The new lawsuit is estimated at billions of dollars. Our firm is preparing, in collaboration with experts, to file additional lawsuits, as new plaintiffs giving us power of attorney against terror entities are joining daily, both abroad and in Israel."

Neria Goelman, a Nova festival survivor who participated in the event's security, fled to the Reim base, where terrorists attacked him. Goelman hid in bushes where he treated wounded individuals. He recounts: "Later in the day, I managed to get a weapon and defend myself. We found a tank, took equipment from it, and operated its mounted machine gun. We were only evacuated toward evening. To this day, I suffer from PTSD, don't leave my room, lash out at people close to me, and have no patience. Additionally, I suffered injuries to my lungs and ears. I think the most moral thing is to stop terrorism in every way, especially its economic engine, which drives all the murder and terror."

Attorney Ortal Reisman, legal advisor to the Civil Information Center, states: "I welcome the collaboration with the October 7 Claims Task Force and invite additional citizens recognized as terror victims to join the lawsuit filed in the US against Binance's CEO, as well as future lawsuits to be filed against Hamas and its funding bodies."

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Israel has for the first time seized cryptocurrency wallets tied to Iran's Quds Force and Lebanon-based Hezbollah terror proxy, Defense Minister Yoav Gallant revealed on Tuesday.

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The "extensive and precedent-setting" effort over the past week resulted in the confiscation of millions of dollars worth of digital currency earmarked for terrorism, Gallant said.

The Quds Force is the branch of Tehran's Islamic Revolutionary Guard Corps responsible for external operations.

"Whoever finances terror or maintains economic ties to terror groups are targets, just like those directing terrorism," Gallant said. "There is a clear connection to terror that originates in Iran, which is the financier and purveyor of terrorism against Israel and many countries around the world, both directly and through its proxies."

The Quds Force, Hezbollah and Syrian groups have since the beginning of the year used cryptocurrency supplied by third parties to fund their activities, according to Gallant.

In April, Palestinian terrorist group Hamas announced it would stop receiving fundraising via the bitcoin cryptocurrency, citing "hostile" activity against donors, following Jerusalem's seizure months earlier of numerous digital wallets linked to terrorism funding.

Although cryptocurrency is seen as providing anonymity, developments in technology have enabled authorities to identify those behind crypto transfers.

In December 2022, the Tel Aviv Magistrate's Court issued a ruling approving the Israeli government's seizure of any and all cryptocurrency assets from digital wallets that have funded terrorism.

Israeli authorities had previously been allowed to seize only those digital assets used to directly finance terrorist activity, but not additional funds in the same wallets.

Reprinted with permission from JNS.org.

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The post In first, Israel seizes millions from crypto wallets tied to Iran, Hezbollah appeared first on www.israelhayom.com.

2021 is "that special year," crypto entrepreneur Bobby Lee of Ballet and the author of The Promise of Bitcoin, told CNBC interviewers on Monday.

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"No one saw it coming, but last year Bitcoin was trading at barely $10,000 … with the bull market, it could go up to over $100,000 this summer," Lee said.

"Bitcoin entered 2021 at $30,000, so even just 10X that would be $300,000," Lee said, referring to what he calls a "mega bull market."

Video: Reuters

"We know Bitcoin bull cycles come every three or four years, and this is a big one," he said.

When asked if such a spike in value could also be called a "bubble," Lee said that downturns in the value of Bitcoin following peaks were known as "Bitcoin winters" and inevitably followed bull markets for the crypto currency.

Lee warned that the currency is "very volatile" and can lose up to 80% of its value after an "all-time peak."

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