Israel sanctions IRGC-linked crypto accounts funneling millions to Hezbollah, other proxies

Israel has imposed sanctions on 37 cryptocurrency wallets associated with Iran's Islamic Revolutionary Guard Corps (IRGC), aiming to disrupt the flow of funds to terror proxies. Defense Minister Israel Katz announced the action, stating that the targeted wallets had funneled approximately NIS 24 million (about $6.5 million USD) to groups including Hezbollah.

Katz emphasized that the campaign against Iran extends beyond the battlefield, targeting the financial networks that fuel terrorism. "Every dollar that is kept from the IRGC is a dollar that will not reach Hezbollah, Hamas, the Houthis and Iran’s terrorist proxies," he stated. "We will continue to target all the financing routes of the Iranian terrorist axis, everywhere and by any means."

This action follows the US-led Operation Economic Fury, which has frozen nearly half a billion dollars in cryptocurrency linked to Iran's regime as part of efforts to dismantle its "shadow banking" networks. These networks enable Iran to circumvent international sanctions, despite the US "maximum pressure" campaign. The US Treasury Department is actively reviewing its sanctions programs to better target sophisticated terrorist financing and sanctions evasion schemes.

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The campaign against Iran is not only being waged on the battlefield - but also in the fight for the money that drives terrorism. Every dollar that is kept from the IRGC is a dollar that will not reach Hezbollah, Hamas, the Houthis and Iran’s terrorist proxies. We will continue to target all the financing routes of the Iranian terrorist axis, everywhere and by any means.