Israeli Police Collaborate with Binance to Freeze Hamas-Linked Crypto Accounts

In a joint effort with the Israeli police's Lahav 433 unit, the Israeli Defense Ministry, and intelligence agencies, cryptocurrency exchange Binance has played a pivotal role in the freezing of cryptocurrency accounts connected to the Palestinian militant group Hamas. This development was disclosed through an official press statement reported by local media outlet Calcalist on Tuesday.

The freeze of these accounts comes in the wake of a recent escalation in hostilities between Hamas and Israel, culminating in an all-out conflict. Israel's Defense Minister has ordered a complete siege of the Gaza Strip in response to a series of attacks launched by Hamas over the weekend.

The operation, which targeted the accounts in question, was conducted by the cyber arm of Israel Police's Lahav 433 unit. The seized funds will be directed towards the Israeli national treasury, as stated in the report.

Binance, in accordance with its commitment to cooperating with law enforcement agencies, issued a statement reaffirming its cooperation with authorities. It underscored its use of exclusive information to identify individuals involved in operating accounts for illicit organizations.

This development comes on the heels of a lawsuit filed against Binance's CEO, Changpeng "CZ" Zhao, by the U.S. Commodities Futures and Trading Commission (CFTC) in March. The lawsuit alleges that Binance's executives were aware of "HAMAS transactions" conducted on the platform. It is worth noting that Israeli authorities have taken action against approximately 190 Binance accounts with alleged ties to terrorist groups since 2021.