- Israel issued a seizure order on 84 addresses linked to the Hamas terrorist group.
- The wallets hold various cryptocurrencies such as BTC, ETH, LTC, XRP, etc…
In July, the Israeli government issued an Administrative Seizure Order to seize 84 cryptocurrency addresses it says belong to the terrorist group Hamas. The addresses hold various cryptos such as BTC, DOGE, ADA, XLM, XRP, ETH.
In the seizure order, some addresses are directly linked to individuals. Also, some addresses are unhosted wallets, while other addresses belong to entities such as a well-known exchange platform.
The list of all the seized crypto addresses is available on the seizure order.
The seizure also urges individuals, who during the course of their business interacted with or received funds from the seized addresses, to report it to the Israeli Police.
How to monitor the funds associated with these wallets?
- Flagged addresses
Scorechain flagged the reported BTC, ETH, LTC, and XRP addresses as “terrorism” and they are thus assigned a low score of 1. When checking addresses, the user will be notified if they belong to a terrorist entity as shown below.
A flagged address on Scorechain Bitcoin Analytics platform
The assigned low score of this address will in turn impact the incoming and outgoing scores of the other addresses with which it has interacted.
- Incoming and outgoing funds scoring
The user is also able to monitor transaction flows thanks to the incoming and outgoing scores. In the screenshots below, we can see the incoming and outgoing scoring for 2 addresses.
For example, on the incoming pie chart, we can see that this specific address received around 15% of funds from an address belonging to the Hamas Addresses Seizure Order entity. On the outgoing pie chart, the address sent around 1% of the funds to an address belonging to the Hamas Addresses Seizure Order entity.
As a result, the incoming and outgoing scores of the 2 addresses are quite low.
Moreover, some wallets contain tokens such as USDT or USDC. On Scorechain Ethereum Analytics platform, the user can easily monitor token scoring as well, if any.
- Risk indicators
Risk indicators can also be used to monitor if funds are linked to terrorism entities on Scorechain platform. The user can set the risk indicator “Terrorism” in advance and be notified if an address or a transaction is linked to such entities. Risk indicators are also available for tokens on Scorechain Ethereum Analytics platform.
- Know-your-transaction / Know-your-address reports
Last but not least, Scorechain reports can also help compliance officers filing suspicious transaction reports (STRs) / suspicious activity reports (SARs) in case of suspicious transactions linked with terrorism.
Other reports can also be generated in the platform such as the balance and transaction history or the incoming and outgoing scoring.
Compliance officers hold all the necessary information to file reports to regulators and mitigate ML/TF risks.
You are operating a business dealing with cryptocurrencies and need to mitigate ML/TF risks to comply with relevant regulations? Scorechain Blockchain Analytics Suite provides a wide range of risk-AML scenarios to help you in your compliance journey. Don’t hesitate to contact us to schedule a free demo: firstname.lastname@example.org
Scorechain is a Risk-AML software provider for cryptocurrencies and digital assets. As a leader in crypto compliance since 2015, the Luxembourgish company serves more than 100 customers worldwide in 36 countries, ranging from cryptocurrency businesses to financial institutions with crypto trading, custody branch, digital assets customers onboarding, audit and law firms and some LEAs.
Scorechain solution supports Bitcoin analytics with Lightning Network detection, Ethereum analytics with all ERC20 tokens and stablecoins, Litecoin, Bitcoin Cash, Dash, XRP Ledger and Tezos. The software can de-anonymize the Blockchain data and connect with sanction lists to provide a risk scoring on digital assets transactions, addresses and entities. The risk assessment methodology applied by Scorechain has been verified and can be fully customizable to fit all jurisdictions. 300+ risk-AML scenarios are provided to its customers with a wide range of risk indicators so businesses under the scope of the crypto regulation can report suspicious activity to authorities with enhanced due diligence.