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Israel seizes millions of dollars in cryptocurrency from Iranian terror groups

Israeli security agencies use new technology tools to track funds used for terrorism

Members of the Islamic Revolutionary Guard Corps (IRGC) force attend a rally marking the annual Quds Day in Tehran, Iran, April 14, 2023. (Photo: Majid Asgaripour/WANA via REUTERS)

Israel has seized millions of dollars in cryptocurrency from the Islamic Revolutionary Guard Corps (IRGC) Quds Force and Hezbollah terrorist group. The Quds Force is the IRGC’s elite unit, used to foment terror and unrest abroad, whereas Hezbollah is an Iranian terrorist proxy organization.

According to an announcement made by Israeli Defense Minister Yoav Gallant on Tuesday, it was the largest seizure of cryptocurrency from those groups until now.

The Israeli Defense Ministry’s Division for Economic Warfare against Terror worked closely with the Mossad, IDF intelligence, the police and other authorities using new technology tools to track the funds used for terrorism, said Gallant.

Israel now regularly seizes cryptocurrency earmarked for terrorist activity from different terrorist groups.

For example, in March 2022, Israel seized thousands of dollars worth of cryptocurrency from Hamas, the terrorist organization that runs the Gaza Strip. Then-Israeli Defense Minister Benny Gantz said that Israel was doing all it could to cut off terrorist financing.

“We are taking all the possible measures to cut off the economic ‘oxygen supply’ to terror organizations,” Gantz said at the time. “We continue to expand the tools to cope with terror and the companies that support it. I commend the organizations involved for their intelligence, operational, and legal cooperation. We will continue to take all the measures necessary to fight terror by any means and in any way.” 

The All Israel News Staff is a team of journalists in Israel.

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