On Tuesday, Israeli Defense Minister Yoav Gallant announced that its National Bureau for Counter Terror Financing had seized $1.7 million from crypto accounts tied to Iran’s Islamic Revolutionary Guard Corps’ Quds Force, the country’s elite military intelligence group, and the Iran-backed terror organization Hezbollah.
While only a small fraction of the hundreds of millions of dollars Hezbollah likely takes in each year, Israeli officials and crypto investigators touted the takedown as a historic first against the Lebanon-based terrorist group, as well as a sign of Israel’s growing prowess at crypto tracing. In April, Hamas’ military wing announced it would stop accepting Bitcoin donations, in part due to Israel’s successful operations against the organization.
