Israel busts Iran-linked crypto network funding militant groups
Yoav Gallant, the Minister of Defense of Israel, has announced the confiscation of millions of dollars in cryptocurrencies from a huge terror funding network tied to the Islamic Republic of Iran. On Tuesday, Gallant said that the operation, the first of its kind, targeted digital wallets related to Quds Force, one of the branches of Iran's Islamic Revolutionary Guard Corps (IRGC), and Hezbollah, Lebanon-based Shia Islamist political and militant group. The Israeli Minister said that these groups used cryptocurrency to fund their daily activities. He added that funding came from a third party. Due to their anonymity, cryptocurrencies, a digital payment system, are appealing to terrorist organizations and criminals all around the world. The Israeli Defense Minister said that the bust sets “a precedent in exposing the source of terror funding via digital currencies.” He further said, "We have thwarted the transfer of millions of dollars to terrorists.” According to Gallant, the...