Israel’s Defence Ministry, in a collaborative effort with the crypto investigations firm Chainalysis, has successfully seized $1.7 million worth of cryptocurrency.
This massive operation targeted funds belonging to the Iranian military and the Hezbollah militant group in Lebanon.
Defense Minister Yoav Gallant, who sanctioned the operation weeks ago, expressed satisfaction at its success.
“This is the first event of this magnitude in which an infrastructure headed by Hezbollah and the Iranian Quds Force that transferred millions of dollars for use by terrorist elements was thwarted,”
In a concerted effort, the government, the Mossad spy agency, and Chainalysis targeted 40 addresses, all of which were transacting in USDT on the TRON network.
Chainalysis elaborated on the tracking pattern of the funds on Tuesday. It stated that the money was first moved to hawala services and Over-the-Counter (OTC) brokers before landing in the Hezbollah-controlled addresses.
This strategic seizure underscores the potential of cryptocurrency analysis tools in disrupting illicit activities and enhancing national security.
Also Read: Israel Seizes Islamic State-linked Binance Accounts
