Israel Sanctions $24 Million in Cryptocurrency Linked to Iran’s Revolutionary Guards Funding Terror

Israeli Defense Minister Israel Katz signed sanctions on Wednesday targeting 37 digital wallets holding over 24 million shekels in cryptocurrency linked to Iran’s Islamic Revolutionary Guard Corps (IRGC). The funds were part of a broad crypto-based financing network uncovered by Israel’s National Headquarters for Combating Terrorist Financing (Matkal) in the Defense Ministry, in cooperation with the intelligence community. This network has been used over the years to transfer tens of millions of dollars to Iran-backed terrorist organizations in the region.

Detailed analysis revealed that Hezbollah was the primary recipient of these funds recently, as the group urgently needed financing following severe losses in fighting against Israel. This move is part of Israel’s ongoing economic campaign against the financial channels of the so-called "Axis of Evil," which also includes Hamas and the Houthis. The disruption of these funding routes results from combined intelligence, operational, and legal efforts by Matkal and other security agencies.

Defense Minister Katz emphasized the broader strategy, stating, "The campaign against Iran is not only fought on the battlefield but also in the struggle over the money that fuels terror. Every dollar prevented from reaching the Revolutionary Guards is a dollar that will not reach Hezbollah, Hamas, the Houthis, or Iran’s terror proxies. We will continue to strike all funding channels of the Iranian terror axis, everywhere and by all means." Matkal head Yorai Metzlav highlighted the importance of targeting the digital space, saying, "There is no immunity for terror financiers even in the crypto realm. Matkal will continue to identify, expose, and disrupt Iran’s and its proxies’ financing infrastructures wherever they operate."