Under the title "Israel Launches 'Cryptocurrency' War Against Hamas... This Time with Bitcoin," the Al Arabiya website reported that Israel announced yesterday, Thursday, that it will begin seizing cryptocurrency accounts used by the Palestinian Hamas movement to fund its military wing. The Israeli Ministry of Defense stated that Defense Minister Benny Gantz ordered security forces to confiscate the accounts following a joint operation that "revealed a network of digital wallets utilized by Hamas to raise funds using Bitcoin and other cryptocurrencies." It was mentioned that Hamas is launching an online campaign to collect donations for its military wing, a push that accelerated following the recent 11-day war in Gaza in May. The preference for cryptocurrencies like Bitcoin is increasing, as they are perceived to be hard to trace. Gantz noted that the intelligence and technological tools that enabled them to access those funds worldwide represent a "practical breakthrough."
A similar American operation occurred last year when the U.S. Department of Justice announced that it had seized millions of dollars from cryptocurrency accounts relied upon by extremist groups, including Al-Qaeda and ISIS, to finance their operations. The administration reported seizing approximately two million dollars, along with over 300 cryptocurrency accounts and four websites and pages on Facebook linked to the schemes. One focus of the American investigation targeted the military wing of Hamas, with U.S. law enforcement officials seizing more than 150 cryptocurrency accounts that they said were used to "launder money to and from accounts managed by the movement." It is noteworthy that Hamas has controlled the Gaza Strip since 2007 and has fought four wars with Israel.
