Israel Orders to Seize the Assets from Blacklisted Crypto Wallets

• Since the court order Israeli authorities seized around $33,500 from digital wallets connected to Hamas.
• In December 2021, almost $750,000 worth of assets were seized from multiple Crypto Wallets.

Israeli Defense Minister Benny Gantz stated on December 18, 2022, that the Tel Aviv Magistrate’s Court issued a decision to approve the government’s seizure of all cryptocurrency from digital wallets supporting terrorist activities.

On December 15, 2022, more than 150 digital Wallets were seized following the warrant issued by the Court. Authorities confirmed that these wallets illicitly funded the Terrorist organizations. Officials froze over $33,500 after the decree, from the wallets that buttressed the Islamist military wing, Hamas.

Israeli Regulators to Seize Crypto Wallets

Since 2007, Hamas has served as the de facto ruler of Palestinian territories, despite multiple Israeli-Palestinian conflicts. According to a relevant report from local Israeli media, the bureaucrats had seized almost $750,000 worth of Cryptocurrencies.  In an attempt to preclude Terrorist activities, several Crypto Wallets were Black-listed by the Government, while keeping a close watch on several more.

Further, Israeli government authorities seized almost $750,000 worth of cryptocurrencies from several wallets in December 2021, as per a local Israeli media report. Also, in February 2022, Gantz issued one more order to seize thousands of shekels in cryptocurrency from 12 digital accounts for breaching financial rules. 

The investigators reported that over 30+ Crypto Wallets withholding assets like Bitcoin, Ethereum, Litecoin, XRP, and Zcash along with other alts were seized. These assets were found to be abetting Shamlach’s exchange company in Gaza.

However, the Israeli Finance Ministry Shira Greenberg proposed a complete regulatory framework  on November 28, 2022, to control and regulate the cryptocurrency in the country.