In a major crackdown on the financing of terrorism, Israel has seized dozens of crypto accounts that were allegedly used by the Hezbollah force to fund its operations. The accounts, which were traced to several countries in the Middle East and Africa, contained millions of dollars’ worth of Bitcoin, Ethereum, and other cryptocurrencies.
According to a statement by the Israeli Defense Ministry, the accounts were operated by a network of Hezbollah agents who used various methods to conceal their identities and transactions. The agents used social media platforms, online forums, and encrypted messaging apps to communicate and recruit new members. They also used crypto mixers, tumblers, and anonymizers to obscure the origin and destination of their funds.
The Israeli authorities said that they were able to identify and track the accounts by using advanced intelligence and cyber capabilities. They also collaborated with international partners, including the United States, to share information and coordinate actions.
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The seizure of the accounts was carried out under Israel’s Counter-Terrorism Law, which allows the government to confiscate assets that are used for terrorist purposes. The Hezbollah force is a militant group that is backed by Iran and operates mainly in Lebanon and Syria. It is considered a terrorist organization by Israel, the United States, and many other countries.
Government of Georgia and Tether Partnership to Boost Bitcoin
In different development, the government of Georgia has announced a strategic partnership with Tether, the world’s largest stablecoin issuer, to leverage the power of blockchain and cryptocurrency in the country’s economy. The partnership aims to make Georgia a global powerhouse in bitcoin, by providing access to low-cost and secure digital payments, fostering innovation and entrepreneurship, and attracting foreign investment and talent.
Tether will work with the government of Georgia to integrate its USDT token, which is pegged 1-to-1 to the US dollar, into the country’s financial system, enabling fast and frictionless transactions across borders and platforms. Tether will also support the development of the local blockchain ecosystem, by providing education, training, and funding to startups and projects that use bitcoin and other cryptocurrencies.
The government of Georgia hopes that this partnership will position the country as a leader in the emerging digital economy and create new opportunities for growth and prosperity for its citizens. According to the official press release, the government of Georgia and Tether will collaborate on several initiatives, such as:
Establishing a legal and regulatory framework for the use of bitcoin and other cryptocurrencies in the country, in line with international standards and best practices.
Developing a national digital currency backed by the Georgian lari, using Tether’s technology and expertise.
Creating a blockchain-based platform for public services, such as identity verification, land registry, voting, and taxation.
Supporting local entrepreneurs, startups, and businesses in the blockchain and crypto space, through education, funding, and mentorship programs.
Promoting awareness and adoption of bitcoin and other cryptocurrencies among the general public, through campaigns, events, and incentives.
The government of Georgia and Tether believe that this partnership will position Georgia as a leader in the global crypto ecosystem and will bring significant benefits to the country and its citizens. They also hope that this initiative will inspire other countries in the region and beyond to embrace the opportunities and challenges of the digital economy.