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"A Bold Stand Against Terrorism Funding through Cryptocurrency Confiscation"
- 29 June 2023
- 1:08 am
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- 29 June 2023
- 1:08 am
Israel’s bold move to seize cryptocurrency wallets tied to Iran’s Quds Force and Hezbollah demonstrates its unwavering commitment to combating terrorism financing. (Photo: CanvaPro)
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In a groundbreaking move, Israel has made history by seizing cryptocurrency wallets tied to Iran’s Quds Force and the Lebanon-based Hezbollah terrorist organization, as revealed by Defense Minister Yoav Gallant on Tuesday. This “extensive and precedent-setting” effort conducted over the past week has resulted in the confiscation of millions of dollars’ worth of digital currency intended for terrorism financing, marking a significant blow to their illicit activities.
The Quds Force, the branch of Tehran’s Islamic Revolutionary Guard Corps responsible for external operations, and Hezbollah have long been associated with acts of terrorism against Israel and numerous countries worldwide. By targeting the financial networks supporting these nefarious groups, Israel is sending a clear message: anyone involved in financing or maintaining economic ties with terrorist organizations will face consequences.
Gallant emphasized the direct connection between Iran, the primary financier of global terrorism, and the acts perpetrated by its proxies. Israel recognizes the threat posed by this nexus and is determined to disrupt their funding sources. By seizing these cryptocurrency wallets, Israel is disrupting the financial lifeline that sustains terrorism and jeopardizes the security of nations worldwide.
According to Gallant, the Quds Force, Hezbollah, and Syrian groups have increasingly relied on cryptocurrency supplied by third parties to fund their activities since the beginning of this year. While cryptocurrency is often perceived as providing anonymity, advancements in technology have enabled authorities to identify the individuals behind crypto transfers, enabling them to target and neutralize illicit financing networks.
This decisive action by Israel follows the seizure of numerous digital wallets linked to terrorism funding by Palestinian terrorist group Hamas earlier this year. In response to Jerusalem’s actions, Hamas announced it would halt receiving fundraising via bitcoin, citing increased scrutiny and risks to their donors. These developments highlight the effectiveness of targeting cryptocurrency transactions to disrupt terrorism financing.
It is important to note that in December 2022, the Tel Aviv Magistrate’s Court approved the Israeli government’s authority to seize all cryptocurrency assets from digital wallets that have funded terrorism. Previously, Israeli authorities were only able to seize digital assets directly used to finance terrorist activities, but now they have the power to go beyond and target additional funds within the same wallets.
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This landmark seizure underscores Israel’s unwavering commitment to combating global terrorism and protecting global security. By employing sophisticated financial investigations and leveraging technological advancements, Israel’s anti-terrorism measures serve as a model for other nations. The collaborative efforts between intelligence agencies, law enforcement, and technology experts have yielded significant breakthroughs in disrupting terrorism financing networks.
The international community must recognize the significance of Israel’s actions in safeguarding global security. Combating terrorism goes beyond military operations and intelligence gathering; it requires proactive measures to cripple their financial infrastructure. Disrupting the funding channels of terrorist organizations is a crucial step towards creating a safer world for everyone.
Israel’s bold move to seize cryptocurrency wallets tied to Iran’s Quds Force and Hezbollah demonstrates its unwavering commitment to combating terrorism financing. By leveraging advancements in financial technology and international cooperation, Israel sets a powerful example for other nations in the global fight against terrorism. These decisive actions mark a significant step towards dismantling the financial networks that fuel acts of terror and reaffirm Israel’s dedication to promoting peace and security worldwide.
Ron East is an educator, community leader and public speaker. He’s spent a decade teaching in the Jewish and public school systems and spent a significant amount of time in various leadership roles in the not-for-profit sector including Executive Director of Football Manitoba and the Manitoba chapter of CFHU. Ron has published numerous newsletters, award winning magazines and online publications and is currently the Publishing Director of TheJ.Ca.
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Thank you for choosing TheJ.Ca as your source for Canadian Jewish News.
We do news differently!
Our positioning as a Zionist News Media platform sets us apart from the rest. While other Canadian Jewish media are advocating increasingly biased progressive political and social agendas, TheJ.Ca is providing more and more readers with a welcome alternative and an ideological home.
We revealed the incursion of anti-Israel progressive elements such as IfNotNow into our communities. We have exposed the distorted hateful agenda of the “progressive” left political radicals who brought Linda Sarsour to our cities, and we were first to report on many disturbing incidents of Nazi-based hate towards Jews across Canada.
But we can’t do it alone. We need your HELP!
Our ability to thrive and grow in 2020 and beyond depends on the generosity of committed readers and supporters like you.
Monthly support is a great way to help us sustain our operations. We greatly appreciate any contributions you can make to support Jewish Journalism.
We thank you for your ongoing support.
Happy reading!
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