The exiled leader of Hamas said on Wednesday that Israel had failed in its "adventure" when it launched attacks on Gaza and accepted Palestinian terms. "It failed, praise be to God," Khaled Mashaal told a news conference in Cairo, adding that Israel had "failed in its adventure." Related stories: Netanyahu: Give ceasefire a chance Gaza rockets hit south after truce IDF holds fire US prevents UN statement excluding rockets Speaking after Egypt announced a truce between the two sides, Mashaal said, "The Israelis capitulated to the terms dictated by the resistance. Eight days of fighting forced them to surrender… The enemy's leaders failed in their adventure." Mashaal told reporters in Cairo that Egypt did not "sell out the resistance or apply pressure, it acted responsibly. We can rebuild the damaged structures. The enemy failed in its plot." Gazans took to the streets to celebrate the ceasefire. They fired into the air and gave out candy. Chants praising the "victory" could be heard from the mosques' speakers. Celebrations in Gaza (Photo: Reuters) Palestinians in the West Bank also celebrated the "victory." A spokesman for the armed wing of the Popular Resistance Committees said the Palestinian factions in Gaza defeated Israel. "Israel and its army surrendered to the power of the resistance on the ground and accepted all of its demands. "The resistance taught Israel a lesson with its unity and force a lesson Israel won't forget for the next 60 years," he said. Hamas politburo member Izzat al-Rishq wrote on his Twitter account that "the resistance won and imposed its terms on the Israeli enemy." He thanked the "heroic jihad fighters." Reuters contributed to the report Follow Ynetnews on Facebook and Twitter Receive Ynetnews updates directly to your desktop