More than 150 crypto wallets blacklisted for alleged links to funding terrorist groups can now have all of their funds removed following an Israeli court ruling.

The Tel Aviv District Court has reportedly issued a ruling allowing the Israeli government to seize all crypto in more than 150 digital wallets that it has blacklisted for allegedly funding terrorist groups.

According to a December 18 local Israeli media report, Israeli Defense Minister Benny Gantz said the December 15 court ruling had already allowed authorities to seize an additional $33,500 from digital wallets linked to the militant group. Islamist Hamas.

Prior to the court ruling, Israeli authorities were only legally allowed to seize digital assets directly linked to terrorist activities, but not additional funds in the same wallets. In December 2021, authorities seized $750,000 from the wallets.

The de facto ruling authority of the Palestinian Gaza Strip since 2007 is classified in whole or in part as a terrorist organization by several countries and international blocs, including the United States, the European Union, Israel and the United Kingdom.

In January 2019, Hamas called on its supporters to send funds using Bitcoin

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as a means of combating sanctions and financial isolation.

Gantz signed an order on July 9, 2021, authorizing security forces to seize crypto accounts with alleged ties to the militant wing of Hamas.

Also Read: Israel’s Chief Economist Provides Recommendations for Crypto Regulation

Authorities announced at the time that the accounts contained Tether

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, ether

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, Dogecoin

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, Binance Currency

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, Zcash

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, Litecoin

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and other altcoins.

In February, 30 crypto wallets from 12 Hamas-affiliated exchange accounts were also confiscated by Israeli authorities.

The exact value of the seized crypto assets has not been made public.

Crypto has been shown to play a relatively minor role in fundraising for terrorist groups. In early 2022, blockchain analytics firm Chainalysis discovered that only a small portion of crypto funds were being used for criminal activity.

Source: CoinTelegraph