Defense Minister Israel Katz signed sanctions against 37 cryptocurrency wallets linked to Iran's IRGC, containing over NIS 24 million ($7 million). The Ministry of Defense said the network transferred tens of millions of dollars to Iranian-backed terror groups, primarily Hezbollah, and that the action is part of a broader economic campaign against Iran's proxy network.
Defense Minister Israel Katz signed sanctions against 37 cryptocurrency wallets linked to Iran's Islamic Revolutionary Guard Corps (IRGC), containing more than NIS 24 million (approximately $7 million) in digital assets, the Ministry of Defense announced Wednesday evening. The National Bureau for Counter Terror Financing, working with the Israeli intelligence community, uncovered a financing network that has funneled tens of millions of dollars to Iranian-backed terrorist organizations, primarily Hezbollah, over years, according to investigators. Officials said Hezbollah has increasingly relied on this funding after heavy losses during the war with Israel. Katz said the campaign 'is fought not only on the battlefield, but also in the struggle against the money that fuels terrorism,' adding that every dollar denied to the IRGC cannot reach its proxies. National Bureau for Counter Terror Financing Director Yorai Matzlaui said that 'even in the cryptocurrency space, there is no immunity for those who finance terrorism.' The sanctions are part of a broader economic effort targeting Iran's proxy network including Hezbollah, Hamas, and the Houthis, according to Israeli officials. The move follows weeks of U.S.-Iran friction over the Strait of Hormuz and regional military exchanges, as The Zioneer has reported previously. The operation resulted from coordinated intelligence, operational, and legal efforts by Israeli security agencies. Investigators said the network has transferred tens of millions of dollars over the years, with Hezbollah increasingly dependent on cryptocurrency funding after sustaining heavy losses in its war with Israel.
2 developments
- DevelopingUS imposes sanctions on 13 individuals and entities for IRGC-linked arms procurement
- DevelopingUS sanctions nine Chinese and Hong Kong entities for arming Iran's military
- DevelopingKatz: Every dollar reaching Iran funds missiles, drones against Israel
- StrongIran's IRGC reportedly preparing multiple responses to Israel after Hezbollah plea
Source and signal
- Internal intake