Israel’s Ministry of Defense announced on Monday that it has ordered the seizure of 187 cryptocurrency wallets allegedly linked to Iran’s Islamic Revolutionary Guard Corps (IRGC). A significant escalation in Israel seizes crypto assets it claims are used for “severe terror crime”. While the wallets currently hold about $1.5 million, analysis reveals they have historically handled over $1.5 billion in transactions.
According to blockchain monitoring firm Elliptic, the wallets have received a cumulative $1.5 billion over time, primarily in the stablecoin USDT. This latest move to Israel seizes crypto funds underlines the increasing sophistication of state actors in tracking and disrupting illicit financial flows in the digital realm. However, Elliptic’s chief scientist noted that they cannot independently confirm ownership and that some wallets may belong to services that process transactions for many different users.
The Israeli defense ministry has not disclosed how it identified and linked these specific wallets to the IRGC. Experts suggest that such information could be obtained through hacking or other intelligence operations, especially given the IRGC’s rumored use of crypto to evade international sanctions.
This seizure is the latest, in a series of actions targeting Iran’s digital financial activities. During a conflict in June, a hacking group with suspected links to Israel reportedly stole and then destroyed approximately $90 million from Nobitex (Iran’s largest cryptocurrency exchange). The ongoing efforts highlight how digital currencies have become a new front in the enforcement of sanctions and the disruption of illicit funding channels. The successful operation demonstrates the growing capability of Israel seizes crypto assets and track transactions globally.
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