Israel has learned how to confiscate cryptocurrency from terrorists

The Israeli government has announced the confiscation of $ 1.7 million in cryptocurrencies from wallets linked to Iranian terrorists and the Iranian-backed Lebanese militant group Hezbollah.

According to the Israeli Defense Minister, the cryptocurrencies were confiscated with the help of Chainalysis, an analytical company. According to company representatives, this was the first case of confiscation of assets from Hezbollah and the Iranian division of Al-Quds.

The confiscation was approved by Defense Minister Yoav Gallant a few weeks ago. Israeli intelligence agency Mossad participated in the operation. «This is the first event of this magnitude to destroy the financing infrastructure of Hezbollah and the Iranian division of al-Quds. The terrorists were using millions of dollars, but now we have these funds,» Gallant said.

The list of wallets from which the funds were confiscated includes more than 40 addresses. The money was confiscated in the form of USDT stablecoins on the Tron network. According to Chainalysis, the money was transferred from fiat to OTC platforms, and then to Hezbollah’s addresses on major cryptocurrency exchanges. It is not yet known how the cryptocurrency was confiscated.

Earlier, the Central Bank of Israel proposed to divide supervisory functions between several government agencies, as well as to oblige stablecoin issuers to obtain a European license to operate.