Israel's defense echelon believes that the car bomb discovered early Monday morning was intended to be used against a school bus filled with children, which was scheduled to leave the town heading towards schools in the region.

The car bomb was discovered at approximately 4:30a.m. Monday morning near the town of Ateret in the Binyamin Region. Security forces blocked traffic in the area after the vehicle was identified, preventing school buses and other traffic from driving through.

Investigators arriving at the scene found that the vehicle contained a device containing 49 kilograms of explosive material, along with a small camera. The camera relayed live footage to the terrorists, who observed the scene remotely and waited for the "right" moment to activate the car bomb, so as to murder as many Israelis as possible.

Security forces are currently searching for the terrorists suspected of involvement in the thwarted terror attack.

On Monday, police and military sappers safely detonated the vehicle, which was found to contain two large gas tanks hooked up to an activation mechanism.