Israeli Authorities Accuse Three Terrorist Groups of Exploiting Cryptocurrency and Stablecoins
Israeli authorities allege that stablecoins are being used by terror groups, including Hamas, ISIS, and Hezbollah, for funding and money laundering during the ongoing conflict
Reports suggest that cryptocurrency played a role in Hamas's recent attacks on Israel, raising concerns about ethical cryptocurrency use and regulatory issues with companies like Binance, Tornado Cash, and Tron
ChainArgos, a blockchain analytics firm, shared data from the Israeli National Bureau for Counter Terror Financing, revealing crypto's heavy use in funding terror activities. Blockchain technology has often been linked to such activities
Terror groups have reportedly shifted from Bitcoin to stablecoins like USDT, USDC, TUSD, and USDD for their ability to launder money via DEXs. This includes the transfer of nearly $130 million to Hamas
Recent actions by Tether, freezing crypto linked to conflicts, and the push for stricter regulations indicate a complex situation for crypto adoption.