Skip to main content
BusinessIsrael NewsJewish NewsLatest NewsPolitics

Israeli Defense Minister Announces Operation To Capture Terror Funds Laundered Through Cryptocurrencies

By 06/27/2023 7:50 PMNo CommentsBy YidInfo Staff


Defense Minister Yoav Gallant disclosed an unusual operation that he approved and initiated some weeks ago at a crypto conference organized by the National Bureau for Counter Terror Financing (NBCTF) in Israel’s Ministry of Defense.

The operation located and seized money used to finance terrorism that was being laundered by terrorist groups funded by Iran.

According to Minister Gallant, Israel has faced complicated security concerns ever since its founding.

Threats changed and evolved over time as technology improved and developed.

We now have to find and cut off funding destined for terrorism in addition to our battle against terror groups and their agents.

“This is not an easy assignment, and if we deal with digital currency, it just gets more difficult. Anyone who supports terrorism financially or has business relationships with terrorist organizations should be aware that they too will become targets.

“Since the start of this year, Hezbollah, Quds Force, and Syrian agents have used digital currencies to pay for illicit transactions with other parties. We have established a precedent by identifying the source of terrorism funding through the use of digital currency in the first operation of its magnitude and kind. The transmission of millions of dollars to terrorists has been stopped.

“I signed an order that allowed the monies to be seized and transferred to the State of Israel by virtue of my position as Minister of Defense. By doing this, we have essentially stopped the flow of money supporting terrorism through this route.

“We are once again shown Iranian efforts to sponsor and disseminate terrorism against Israel and against the international community, both directly and indirectly via its proxies,” Gallant said in his conclusion.


By providing your phone number, you will receive text message updates from Yid-Info. You can opt out at any time by responding STOP.

bobby bracros

Author bobby bracros

More posts by bobby bracros

Leave a Reply