search

Court allows government to seize digital currency from wallets linked to terror funding

Emanuel (Mannie) Fabian is The Times of Israel's military correspondent.

A visual representation of cryptocurrencies Bitcoin,Ripple XRP, Dogecoin, and Ethereum. (Salarko via iStock by Getty Images)
A visual representation of cryptocurrencies Bitcoin,Ripple XRP, Dogecoin, and Ethereum. (Salarko via iStock by Getty Images)

An Israeli court has allowed the Defense Ministry to seize cryptocurrency from digital wallets previously used to fund terror groups.

Outgoing Defense Minister Benny Gantz’s office publishes a statement revealing that the Tel Aviv Magistrates’ Court approved such a seizure for the first time on Thursday.

In the past, Israel has seized cryptocurrency allegedly used for funding terror groups, but not additional funds.

According to the statement, Israel has seized NIS 116,000 ($33,500) from digital wallets used to funnel funds to the Hamas terror group last year. In December 2021, Israeli authorities seized NIS 2.6 million ($750,000) in cryptocurrency from the same wallets.

At least 150 digital wallets were sanctioned by Israel, and additional funds currently in them could be seized based on the new court ruling.

Never miss breaking news on Israel
Get notifications to stay updated
You're subscribed
image
Register for free
and continue reading
Registering also lets you comment on articles and helps us improve your experience. It takes just a few seconds.
Already registered? Enter your email to sign in.
Please use the following structure: example@domain.com
Or Continue with
By registering you agree to the terms and conditions. Once registered, you’ll receive our Daily Edition email for free.
Register to continue
Or Continue with
Log in to continue
Sign in or Register
Or Continue with
check your email
Check your email
We sent an email to you at .
It has a link that will sign you in.