Afraid of Hamas Getting Funding Through Bitcoin, Israel Orders to Close 100 Crypto Accounts on Binance

Israeli law enforcement instructs Binance to close 100 crypto accounts belonging to Palestinian militants. (Photo; Doc. The Jewish Star)

JAKARTA - Binance, a leading global crypto exchange, has closed more than 100 accounts in response to attacks carried out by the Hamas group on Israel earlier this month. The closure was encouraged by Israeli authorities.

According to a recent report from the Financial Times, Israeli law enforcement agencies have ordered the closure and confiscation of cryptocurrencies worth millions of US dollars in an effort to cut off funding to Palestinian militant groups.

Previously, Hamas had invited its supporters to send Bitcoin (BTC) as part of their efforts to evade economic sanctions imposed by the United States.

The same source also reported that Israeli authorities have requested information related to up to 200 additional crypto accounts allegedly involved in the transactions. The majority of these accounts were also reportedly created on the Binance platform.

In a statement to the Financial Times, Binance confirmed that it had blocked a "small number" of accounts related to the action. However, Binance was not the only one to respond to this attack.

On Monday, USDT stablecoin issuer Tether announced that it had frozen 32 crypto addresses “linked to terrorism and conflicts in Israel and Ukraine.” The addresses reportedly contained more than $870,000 (around IDR 12.6 billion).

Tether CEO Paolo Ardoino reiterated the view that crypto should not be used as a tool by criminals. In his statement, he said, "Tether remains committed to promoting the responsible use of blockchain technology and standing as a strong defense against cybercrime. We look forward to continued collaboration with global law enforcement agencies as part of our commitment to global security and financial integrity."