Israel freezes $8 million in crypto linked to Iran's terror network
Defense Ministry identifies 37 digital wallets allegedly used by the IRGC to funnel funds to Hezbollah and other Iranian-backed terrorist organizations.
The National Bureau for Counter Terror Financing at Israel's Ministry of Defense has identified 37 digital wallets allegedly used by Iran's Islamic Revolutionary Guard Corps (IRGC) to finance terrorism. Cryptocurrencies with a total value of more than NIS 24 million ($8 million) were found in the wallets, and Defense Minister Israel Katz has signed orders to freeze the assets.
The investigation found that the wallets were used to transfer funds to Iranian-backed terrorist organizations, primarily Hezbollah. According to the findings, the wallets were part of a broader terrorist financing infrastructure linked to Hezbollah. An analysis of the transactions indicates that tens of millions of dollars were transferred through the wallets to terrorist organizations over the years.
The Bureau, headed by attorney Yoray Matzlawi, operates within the Ministry of Defense and includes representatives from Israel's key intelligence and law enforcement agencies, including the Mossad, the Shin Bet, Military Intelligence, the Israel Police, the Israel Prison Service, and the Israel Tax Authority. These agencies provide the Bureau with intelligence that enables it to identify terrorist financing networks. Based on intelligence assessments and legal opinions, the Defense Minister can issue administrative orders freezing assets without the need for lengthy investigations or court proceedings. The Bureau also shares intelligence gathered by Israeli agencies with foreign governments, enabling them to take action against the individuals and organizations involved.
