In a significant shift in warfare tactics, Israel's latest conflict showcases battles on multiple fronts, including the physical, digital and notably, the financial. Amid the ongoing war, the flow of funds is a crucial battlefield, especially in the realm of cryptocurrencies.
Iran's funding of Hamas and Hezbollah is a well-known strategy, but the method of transferring these funds has evolved. Instead of traditional cash, cryptocurrencies have become the medium of choice. In response, an Israeli startup, Lionsgate Network, has diverted its resources to counter this digital financing of terrorism.
Lionsgate Network, initially focusing on cryptocurrency analysis and recovery of hacked crypto funds, has now aligned with Israel's national effort. Their objective is to identify and intercept crypto wallets linked to Hamas. The campaign has been remarkably successful, freezing about 100 accounts estimated to be worth tens of millions of dollars. This achievement is particularly significant, considering traditional cash transfers have been limited due to borders being closed.
Bezalel Raviv, CEO and founder of Lionsgate Network, asserts that blocking terrorist crypto financing is pivotal to ending the war. The company's expertise in blockchain analysis and recovery positions it as a global leader in tracking and monitoring cryptocurrency transactions in real-time. This capability allows Lionsgate to flag suspicious financial activities and preemptively address potential threats. “The most effective way to end this war tomorrow is to block terrorist crypto financing,” says Raviv.
Lionsgate Network is at the forefront of global blockchain analysis and recovery. Its team of experts tracks and monitors real-time cryptocurrency transactions, enabling it to identify and label suspicious financial activities and respond promptly to potential threats before they materialize. “Currently, we are working to release Hamas’ seized funds to support the thousands of families affected by the latest inhumane terrorist attack,” according to Raviv.
This initiative is part of a broader effort to disrupt Hamas' financial infrastructure, which is crucial in curbing decades-long terrorism. This strategy complements the efforts of combat soldiers and digital warriors, representing a new front in the fight against terrorism.
Raviv's commitment to utilizing his company's technology in the battle against Hamas' crypto network exemplifies Israeli tech innovation's role in addressing global security challenges.