An American firm reported that Israel seized $1.7 million in cryptocurrencies used for terrorism.
In a recent report, US Blockchain firm Chainalysis revealed details about Israel’s confiscation of cryptocurrencies, intended to finance pro-Iranian interests. The firm claims to have worked in collaboration with Israeli intelligence to seize more than $1.7 million worth of cryptocurrency, which was intended for Iranian-sponsored military-political groups.
According to published data, the Quds Force, recognized as a terrorist group in the United States and European countries, was found to be sponsoring the activities of another terrorist organization known as Hezbollah. The financing was carried out through cryptocurrencies, using the informal financial and settlement system known as Hawala, which is based on the compensation of claims and obligations.
Provisional Freedom for the “Sheik dos Bitcoins”
In other news, the businessman Francisley Valdevino da Silva, known as the “Sheikh of the Bitcoins”, has been provisionally released by the Federal Justice, according to reports from G1 Paraná.
Francisley’s arrest took place in Curitiba in November 2022, after he violated the precautionary measures imposed by the Federal Police. Since 2016, he has been under investigation for allegedly running a pyramid scheme disguised as cryptocurrency lending. This would have moved around 4 billion reais (equivalent to approximately $83.5 million at the current exchange rate), according to the authorities.
The allegations against Francisley argue that he used the pyramid scheme to defraud numerous people, promising significant returns in exchange for cryptocurrency investments. According to the investigation, the businessman operated a sophisticated system that involved multiple levels of participants, and used money from new investors to pay off old ones, instead of generating legitimate profits through cryptocurrency investments.
The release permit defines that the defendant is prohibited from leaving the country, must deliver his passport to the Federal Justice, cannot leave the city and, in the event of a change of address, must notify the Court.
“It should be noted, as pertinent, that the prohibition to leave the country and the suspension of financial activities carried out by Francisley, as well as the prohibition of contact with the other investigated participants in the criminal plot, observe the postulate of proportionality, as well as fulfilling the main purpose presented in the police representation, to make it difficult for Francisley to act in charge of the companies that make up the organization, as well as his departure from the national territory,” says the document.
Delio Investigation: Fraud and Embezzlement
South Korean cryptocurrency lending company Delio is under investigation for fraud and embezzlement by the country’s Financial Services Commission (FSC). According to reports from Digital Asset, a local news outlet. The investigation was launched on June 30, after Delio unilaterally suspended user deposits and withdrawals on June 14.
US Court Orders Kraken to Turn Over User Information to the IRS
The United States Internal Revenue Service (IRS) has won a legal victory in its investigation into cryptocurrency-related undeclared taxes. A trial court has ordered popular cryptocurrency exchange Kraken to provide personal information of its users to the IRS.
The ruling was issued on June 30 by Magistrate Judge Joseph Spero, who dismissed Kraken’s efforts to prevent the disclosure of its users’ data. The order requires Kraken to turn over information on all accounts that transacted at least $20,000 in cryptocurrency between the years 2016 and 2020.
By Marina Meza
