Blockchain analytics firm Elliptic found that the online organization raised a mere $21,000 in crypto for Hamas since the October 7th attacks.
FinCEN Is Analyzing $165M in Transactions That May Tie Crypto and Hamas, Senior Official Says
U.S. Treasury Debunks Narrative That Hamas Relied on Crypto to Fund Terrorism
Just after Hamas’ terrorist attacks in Israel last year, crypto took blame for helping fund such brutal killing. While the prominent media reports were later bashed by cryptocurrency experts, the U.S. Department of the Treasury’s top official on terrorism financing confirmed to lawmakers on Wednesday the situation was blown out of proportion.
Binance Sued by Families of Hamas Victims, Hostages
The plaintiffs, who are also suing Iran and Syria, say the crypto exchange facilitated the financing of Hamas and other terrorist groups between 2017 and 2023.
U.S., U.K., Australia Sanction Hamas-Affiliated Crypto Transaction Facilitators
The U.S. and other governments are adding a number of Hamas-affiliated financiers to a global financial blacklist, the Treasury Department’s sanctions watchdog announced Monday.
Bipartisan Anti-Crypto Terror Financing Bill Heads to U.S. Senate
Legislation will crack down on terrorist organizations like Hamas by applying sanctions to foreign parties that facilitate financial transactions with terrorists.
Hamas, Hezbollah Now Prefer Tron to Bitcoin: Reuters
Almost two-thirds of Israel’s Tron seizures were in 2023, including 39 from wallets Israel said in June were owned by Lebanon’s Hezbollah and 26 in July from Hamas ally Palestinian Islamic Jihad.
Does Crypto Finance Hamas and Other Terrorists?
Crypto-Friendly Lawmakers Ask Biden, Yellen to Quantify Hamas’ Digital Asset Fundraising
A group of lawmakers led by
Discredited Crypto Terrorist Funding Figures Gain Fresh Life in House Hearing
Despite a raging online debate discrediting the scale of crypto support for terrorist groups, the story continues to resonate in important places. Most recently on Thursday, the ranking Democrat at a hearing in the U.S. House of Representatives quoted a figure of $130 million in digital assets flowing to terrorists.
WSJ debacle fueled US lawmakers’ ill-informed crusade against crypto
The Wall Street Journal corrected its misreporting about crypto funding Hamas, but it was too late to stop lawmakers from amplifying false claims.
Lawmakers Lummis and Hill Urge DOJ Decision on Charging Binance and Tether for Aiding Hamas
U.S. lawmakers Senator Cynthia Lummis (R-Wy.) and Rep. French Hill (R-Ark.) have urged the Department of Justice to “expeditiously conclude” investigations and reach a decision on charging Binance and Tether for aiding terrorism financing for Hamas.
U.S. Senate’s Banking Chairman Says Panel to ‘Crack Down’ on Crypto’s Terrorism Ties
U.S. Sen. Sherrod Brown (D-Ohio) has said the Senate Banking Committee will “crack down on the use of crypto to fund terrorism and evade sanctions” at a time when the U.S. must stand with both Ukraine and Israel as they fight back against Russian President Vladimir Putin and Iranian-backed terrorists like Hamas.
Media Reported Hamas Got Millions Via Crypto, but the Data Provider They Cited Says It Was Misconstrued
After Hamas’ deadly attacks in Israel, media reports linked the terrorist group with tens of millions in crypto donations, but that data was misinterpreted and hugely exaggerated, according to the blockchain analytical firm that was cited.
Crypto donations raised by Hamas ‘remain tiny,’ says Elliptic
Elliptic’s statement was framed as a rebuttal to recent articles and letters circulating among the media and U.S. lawmakers this month.
Elizabeth Warren uses Hamas as her newest scapegoat in war on crypto
Massachusetts Sen. Elizabeth Warren is taking advantage sensationalist claims related to Hamas’ use of crypto. Unfortunately, those claims are largely false.
U.S. Sen. Warren Leads Lawmakers to Push Administration on Crypto-Backed Terrorism
U.S. Sen. Elizabeth Warren (D-Mass.) led more than a hundred lawmakers in demanding top officials share their plans for heading off crypto-financed terrorism.
Israel Freezes 100 Binance Accounts Over Suspected Hamas Links: FT
Authorities requested information on some 200 other crypto accounts, the FT said, citing people familiar with the matter.
Hamas’ Crypto Ties May Lend Energy to Sen. Warren’s Money Laundering Bill
The revelations that the terrorist group behind last week’s attack on villages in southern Israel that left more than 1,200 Israelis dead was partially funded with cryptocurrency may lend additional weight to an effort from Sen. Elizabeth Warren (D-Mass.) and others to push for a law targeting money laundering and sanctions abuses in crypto.
How Hamas Lost its Crypto In An Israeli Operation, Binance Supports Security Forces
Israeli law enforcement launched an operation targeting crypto addresses associated with the terrorist group Hamas. The country suffered an attack this past Sunday, leading to deaths and many civilians disappearing.
Binance And Israel Work Together To Freeze Crypto
A local news media Calculist report confirmed an operation led by the Israeli Police Department and the National Counterterrorism Headquarters, part of the Ministry of Defense. The operation was supported by the world’s largest crypto exchange, Binance.
During the operation, the law enforcement agencies discovered funds raised by the terrorist group via crypto donations. The investigation led the cyber unit from the Israeli Police to the crypto trading venue.
The terrorist group launched the campaign in the past few days. The law enforcement agencies claimed that Hamas used the attention from Sunday’s attack to raise money from radicals and supporters worldwide.
The terrorist group, the report claims, turned to social media platforms to launch the campaign. A spokesperson for the law enforcement agencies told Calculist the following regarding the events:
As the war broke out, Hamas launched a fundraising campaign on social networks, asking the public to deposit crypto into its account. The cyber unit and the NSC have been working immediately to locate and freeze the accounts, assisted by the Crypto Exchange (Binance), to freeze the funds (…).
The report claims that Binance has been aware of Hamas’s operation on its platform. In a separate report from CoinDesk, some data suggests previous cooperation between Binance and Israeli law enforcement.
The company helped Israel to freeze almost 200 accounts connected to Hamas and other terrorist groups. A spokesperson for the crypto exchange told CoinDesk:
Over the past few days, our team has been working in real-time, around the clock to support ongoing efforts to combat terror financing. We are committed to ensuring the safety and security not just of the blockchain ecosystem, but also the global community, through our proactive work.
Following the events of the past Sunday, the conflict between Israel and Hamas escalated. The nation-state declared war on the terrorist organization and appeared to be preparing to increase its offensive on the Gaza Strip in response to the terrorist group.
In this context, the cooperation between Binance and local enforcement seems likely to increase. Israel will fight Hamas across all sectors, including the nascent industry and its related companies and tools.
Cover image from Unsplash, chart from Tradingview