Jerusalem, 25 May, 2026 (TPS-IL) — Israel’s Supreme Court ruled that the Israel Police may take actions against foreign crypto companies to freeze crypto assets.
The Supreme Court accepted the appeal of the Public Prosecutor’s Office and ruled that the Israel Police is authorized to act against foreign companies that manage digital wallets in order to freeze crypto assets suspected of being related to criminal offenses, within the framework of voluntary cooperation and in accordance with its powers under law.
The proceedings dealt with a large-scale crypto fraud case known as the “Russian Sting,” in which cryptocurrency investment fraud was allegedly committed against citizens in Israel and abroad, mainly expatriates from the CIS countries.
It is suspected that the fraudulent funds were transferred between various digital wallets and drained into a crypto wallet where coins worth over $10 million were held.