Israel has seized approximately 190 cryptocurrency accounts on the Binance exchange since 2021, including two linked to ISIS and dozens connected to Palestinian firms tied to Hamas, according to documents released by Israeli counter-terrorism authorities.
Israel’s National Bureau for Counter Terror Financing (NBCTF) confiscated two Binance accounts in January, citing the need to disrupt ISIS activities. However, the documents did not disclose the value of the seized cryptocurrency or details on their association with ISIS.
Binance, the world’s largest cryptocurrency exchange, did not respond to requests for comment, and Israel’s defense ministry, responsible for NBCTF, has not provided a response.
Under Israeli law, the defense minister can order the seizure of assets related to terrorism.
This action highlights global efforts to tighten regulations on crypto exchanges to prevent illegal activities such as money laundering and terrorism financing. Binance claims to cooperate with government requests on a case-by-case basis and to invest in compliance measures.
Islamic State has received cryptocurrency donations that were later converted to cash, though specific platforms were not disclosed. The two Binance accounts linked to ISIS were owned by a 28-year-old Palestinian named Osama Abuobayda.
Binance has faced allegations of weak anti-money laundering controls and has processed significant payments for criminals and sanctions evaders. Two suspects involved in a 2020 terrorist attack in Vienna reportedly used Binance, but the company shared information with the police, according to its legal representatives.
Most of the 189 Binance accounts seized by Israel belonged to three Palestinian currency exchange firms accused of transferring funds for Hamas. Israel designates these firms as “terrorist organizations.” Last month, over 80 Binance accounts belonging to these companies had cryptocurrency worth over 500,000 shekels ($137,870) seized.
The currency exchange companies deny any involvement with crypto or Hamas and view Israel’s allegations as baseless. Hamas also denies any connection to these firms.
By FCCT Editorial Team
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