Israel Sanctions $24 Million in Cryptocurrency Linked to Iran’s Revolutionary Guards and Hezbollah

Israel’s National Headquarters for Combating Terrorist Economic Warfare (NHTEW), in cooperation with the intelligence community, uncovered a cryptocurrency-based funding network used by Iran’s Islamic Revolutionary Guard Corps (IRGC) to transfer terror funds to its proxies, including Hezbollah. Following the investigation, Israeli Defense Minister Israel Katz signed sanctions orders on Wednesday targeting 37 digital wallets holding over 24 million shekels (approximately $7 million) in cryptocurrencies.

The Defense Ministry revealed that these wallets were a central part of the IRGC’s financial infrastructure, facilitating the transfer of tens of millions of dollars over the years to various Iran-backed terrorist organizations, primarily Hezbollah. This action is part of Israel’s broader economic campaign against the funding networks of the IRGC and its proxies, which also include Hamas and the Houthis.

The disruption of this financial channel was made possible through combined intelligence, operational, and legal efforts by the NHTEW and other security agencies. Defense Minister Katz emphasized that the fight against Iran extends beyond the battlefield to cutting off the financial resources that fuel terrorism, stating, "Every dollar prevented from reaching the Revolutionary Guards is a dollar not reaching Hezbollah, Hamas, the Houthis, and Iran’s terror proxies. We will continue to strike all funding routes of the Iranian terror axis, everywhere and by all means."

Yorai Matzlavoy, head of the NHTEW, added that even the cryptocurrency space offers no immunity to terror financiers, affirming the ongoing commitment to identify, expose, and disrupt Iran’s and its proxies’ funding infrastructures wherever they operate.