Israeli authorities have frozen and seized crypto donations associated with the Islamic Resistance Movement with the assistance of Binance, the world's largest cryptocurrency exchange platform, by trading volume.
The Cyber Unit of Israel Police said Tuesday that its collaboration with Lahab 433, the National Bureau for counter-terrorism financing under the ministry of defense, Shin Bet and multiple national intelligence agencies, with Binance's assistance, has resulted in the successful freezing and seizure of the accounts allegedly used by Hamas for its fundraising activities.
The latest incident comes as the Hamas terrorist attacks have engulfed Israel over the weekend, which eventually led to the Israeli government's declaration of war against the Palestinian organization.
Binance has reportedly been assisting authorities in identifying and deactivating the alleged cryptocurrency donations of Hamas.
Barclays' bank, details of which were published by Hamas for the purpose of depositing donation funds, Israel Police said in a post on X, formerly Twitter.
The cryptocurrency exchange platform in Israel reportedly urged Israeli authorities to withdraw the seized money and transfer it to Israel's state treasury.
Binance said it plans to raise funds to buy a large number of companies from China in the next few months.
Cryptocurrency exchange platform said that it works with law enforcement globally to make the world a safer place.
Binance lent its support to Thailand police earlier this month in efforts to stem the spread of cryptocurrency scams. The exchange said its investigation team helped Thailand authorities in two major operations that resulted in the dismantling of crime syndicates and arrests and seizure of assets.