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Updated January 24th, 2022 at 12:03 IST

Cryptocurrency theft: Delhi Police probe reveals miscreants transferred Bitcoins to Hamas

A Delhi Police investigation into an alleged Crypto theft case has revealed that the Cryptocurrency was transferred to Palestine's Hamas group.

Reported by: Shloak Prabhu
Hamas
Image: Unsplash/Shutterstock | Image:self
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A Delhi Police investigation into an alleged Crypto theft case has revealed that the Cryptocurrency was transferred to Palestine's Hamas group. According to sources, the complainant had reported that some unknown persons had fraudulently transferred their Bitcoins, Etherum and Bitcoin cash from their cryptocurrency wallet. The transferred cryptocurrency was touted to be worth Rs 30 lakhs. The investigation has now revealed that the Cryptocurrency was transferred into the wallets of Al-QassamBrigates, which is the military wing of Hamas.

Sources further stated that the case was initially registered in Delhi's Police Station Paschim Vihar after the orders of the court. The case was later transferred to the Cyber Crime Unit, Special Cell, Delhi. During the course of the investigation, it was found out that the cryptocurrency was transferred to the wallets maintained by Al-QassamBrigates as well as to the wallets which have already been seized by Israel's National Bureau for counter Terror Financing.

Moreover, it has also been learned that the seized cryptocurrency wallet belongs to Mohammad Naseer Ibrahim Abdulla. In addition, sources also informed that the other wallets in which a major share of cryptocurrencies have been transferred are being operated from Giza in Egypt. The cryptocurrency wallet in Egypt belongs to Ahmed Marzooq while one wallet belongs to Mohammad Naseer Ibrahim Abdulla who is a Palestinian. 

In addition, the investigation has also revealed that the cryptocurrencies were routed through various private wallets and eventually landed into suspects' wallets that were being used in Gaza, Egypt and by the military wings of Palestinian organization Hamas.

Centre to introduce Crypto regulation bill in upcoming budget session

Meanwhile, the Centre will likely roll out a cryptocurrency regulation bill in the upcoming Budget session of Parliament beginning January 31. In addition, it is also mulling changes in income tax laws to bring cryptocurrencies under the tax net, which could be a major part of the Union Budget 2022. Back in 2021, the Centre maintained that it will not ban cryptocurrencies, but remarked that it will introduce a regulatory bill. 

Prime Minister Narendra Modi too had chaired a meeting and spoke about the issue of misleading non-transparent advertising related to cryptocurrency. The meeting was conducted after a consultative process done by the Reserve Bank of India (RBI), the Finance Ministry and the Ministry of Home Affairs. While asserting that crypto markets cannot be allowed to become avenues for money laundering and terror financing, sources indicated that the Centre will continue to engage with all stakeholders.

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Published January 24th, 2022 at 12:03 IST

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