According to the Times of Israel report, Israel’s Defense Ministry has accused these suspicious accounts of supporting the Hamas terror group, especially its military wing. It is alleged that these accounts used to transfer millions of dollars to the Terror Group every year to fund the group.
The details about how much money was transferred through these accounts was not shared. Military men also helped the police and the ministry in their bust. The Hamas Group, formed in 1987, has a military wing known as the ‘Is al-Din al-Qassam Brigades’. It has carried out several attacks against Israel since 1990, which took place on Israeli and Palestinian soil.
In 2019, Hamas appealed for bitcoin donations, according to a Reuters report. It adjusted the website in such a way that a new wallet address was created for each transaction. This made it difficult for regulators to trace funds. Now the Ministry of Defense of Israel has busted it and seized these accounts promoting terrorism through cryptocurrencies.
Cryptocurrency transactions are not traceable and because of this cryptocurrency can easily be used for illegal purposes. These actions include illegal acts such as money laundering, tax evasion, and fund-raising for terrorism. Due to which governments around the world are now concerned about cryptocurrencies and are looking for ways to regulate it. Ukraine, which has recently been under attack from Russia, has declared cryptocurrency legal in the country. Now cryptocurrencies have been given the status of a legal asset in Ukraine.
<!–
–>
For the latest tech news, smartphone reviews and exclusive offers on popular mobiles, download the Gadgets 360 Android app and follow us on Google News.
Related news
,