Israel Seizes $1.5B Crypto Linked to Iran Guards
Israel has confiscated 187 crypto wallets linked to Iran’s Revolutionary Guards and frozen $1.5 million USDT in them following terror-financing claims.
The Ministry of Defense of Israel has ordered the seizing of 187 cryptocurrency wallets possessed by the Iranian Islamic Revolutionary Guard Corps (IRGC).
The U.S., Canada, the U.K., and the European Union refer to the IRGC as a terrorist group. Over the years, the grabbed wallets have processed approximately one point five billion in the USDT stablecoin of Tether.
On September 13, blockchain analytics company Elliptic revealed that Tether blacklisted 39 of these wallets, and some 1.5 million USDT was held by the service to prevent any additional transactions.
Nevertheless, Elliptic warns that not every transaction can be traced directly to the IRGC, as some addresses may be used as infrastructure for crypto services that serve a number of customers.
The Cryptocurrency and Terror Finance: A Thorny Menace.
IRGC has been reported to utilize cryptocurrency to carry out illegal operations. In governmental matters, the recent actions of the U.S. government consist of the seizure of more than half a million USDT of an Iranian citizen who was linked to the production of IRGC drones.
Millions of USDT were reported in 2024 to be linked to IRGC-affiliated officials transferring money to Houthi militants in Yemen.
In early 2021, a pro-Israeli hacking organization accessed an Iranian crypto exchange called Nobitex connected to the IRGC and stole and set ablaze crypto worth 90 million dollars.
These incidents underscore a continued attempt by Israel and other allied agencies to intercept crypto channels that finance terrorism.
Blockchain analytics technology makes it possible to trace illicit funds even when the transaction is anonymized.
The Role of Elliptic and Transparency of Blockchain.
Elliptic has also made it possible to screen the flagged wallets in real time to ensure the crypto ecosystem does not process tainted money.
The company stressed the transparency of the ledger provided by blockchain, which helps authorities and players of the industry to trace suspicious money trails quickly than they can trace it with old-fashioned finance.
The move holds importance beyond the immediate freezing of assets. It is an indication of greater regulatory and technological co-operation to fight crypto abuse by legitimate organisations such as the IRGC.
Such a coordinated initiative reinforces the campaign against the integrity of the digital asset ecosystem.
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