Binance and Israeli Police partner to stop Hamas’s crypto donations amid rising conflict


  • Binance collaborates with the Israeli Police Cyber Unit to freeze cryptocurrency accounts linked to Hamas, impacting their financial campaigns amid escalating violence in Israel.
  • The joint effort, involving multiple Israeli intelligence agencies, swiftly identified and halted Hamas’s crypto fundraising initiatives, redirecting the funds to the state treasury.
  • Besides the Binance partnership, Israeli authorities also worked with UK law enforcement to block a Barclays Bank account for Hamas donations, showcasing global collaborative efforts to curb illicit financial activities in the crypto industry.

To curb financial aid to the Palestinian militant group Hamas amid escalating violence, Binance teamed up with the cyber unit of Israel’s police. The collaboration has successfully led to the freezing of several cryptocurrency accounts believed to be linked to Hamas, significantly impacting the militant group’s fundraising campaigns. The tumultuous situation in Israel, characterized by a surge in violence and bloodshed, has seen an alarming increase in casualties, prompting governmental initiatives to sever all financial conduits to Hamas.

The recent joint endeavor saw Lahav 433’s cyber unit, working alongside the National Headquarters for Economic Counter-Terrorism under the Ministry of Defense, Shin Bet, and various intelligence agencies, tirelessly identifying cryptocurrency networks employed by terrorist factions for fundraising. 

According to a press release, Hamas initiated a fundraising drive on social media after the flare-up of hostilities, urging the public to contribute cryptocurrencies. Swift action by the cyber unit and the National Headquarters, with the crucial assistance of Binance, led to the prompt identification and freezing of the accounts, directing the funds towards the state treasury.

Binance’s spokesperson reiterated the platform’s unwavering resolve to work in tandem with global law enforcement bodies and regulators, aiming to mitigate terrorist financing while bolstering the safety of the blockchain ecosystem along with the global community. 

The accounts in question, reportedly orchestrated by Hamas, have been fervently engaged in fundraising via numerous social media outlets since the onset of the weekend. Binance’s real-time, incessant efforts, executed “around the clock,” have been instrumental in supporting ongoing ventures to counter terrorist financing.

 This partnership highlights the cryptocurrency sector’s dedication to upholding security and compliance standards, actively partaking in ventures to thwart illicit activities within the crypto space.

Additional joint operations aim to curtail financial support to militants

Besides the fruitful collaboration with Binance, the Israeli Police Cyber Unit has extended its cooperative efforts to law enforcement authorities in the United Kingdom. This partnership aimed to obstruct a Barclays Bank account in the UK, which Hamas had explicitly cited for donations. 

Moreover, the cryptocurrency’s growing role in the ongoing conflict is apparent, as demonstrated by the Web3 community in Israel launching the “Crypto Aid Israel” cryptocurrency relief fund. This initiative seeks to amass financial aid for Israeli citizens in dire need of humanitarian assistance.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space. He also studies the ramifications of Web3 and blockchain development to have a stake in the future economy.

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