Hamas had endorsed crypto as a fundraising method for years, previously developing sophisticated tactics to solicit bitcoin donations.
The investigation revealed that the suspects have sold 1,700 works since 2021 and obtained 620 Ethereum in payment which is equivalent to approximately NIS 8m.
While some crypto markets were crashing, there was a sharp increase in renting vaults to store Ledgers - "hardware" wallets for keeping digital currencies.
More and more Israeli teenagers have gotten involved in the field of cryptocurrency trading, a virtual currency that is secured by cryptography.