Market News

Israeli Government Freezes 187 Crypto Wallets Linked to USDT and Iran's Revolutionary Guard

In a significant move, the Israeli government has frozen 187 cryptocurrency wallets suspected of being linked to Iran's Islamic Revolutionary Guard Corps (IRGC).

This action was taken under the country's anti-terrorism laws, which categorize the IRGC as a designated terrorist organization.

The wallets in question have collectively processed transactions amounting to $1.5 billion in Tether's USDT stablecoin.

Although the Israeli Ministry of Defense claims these wallets are essential for terrorist financing, the actual connection to the IRGC remains unverified.

Blockchain analytics firm Elliptic confirms that while these wallets are suspected, they may also be part of broader cryptocurrency services not directly tied to terrorist activities.

As part of the seizure order, 39 of these wallets have been blacklisted by Tether to prevent future transactions.

The freeze is set to remain in place for two years or until further notice, underlining Israel's commitment to combating terrorism through digital finance.

Critics argue that this move may expand the definition of terrorist financing to include broader cryptocurrency transactions.

The situation highlights ongoing global concerns about the potential misuse of cryptocurrencies for illegal purposes.

Israel's actions reflect a growing trend among nations to regulate and monitor cryptocurrency usage amid fears of its role in terrorism financing.