Hamas militants closely depend on cryptocurrency donations
The Israeli authorities has moved to confiscate 84 cryptocurrency wallets which can be linked to the Hamas terrorist group, in line with an administrative seizure order issued by the Nationwide Bureau for Counter Terror Financing.
Aside from Bitcoin, the members of the Islamist terror group additionally personal an enormous array of cryptocurrencies. Based on blockchain sleuth Elliptic, the wallets collectively have $7.3 million value of crypto.
Hamas militants maintain $3.8 million value of Tether, $3.3 million value of Bitcoin, $51,129 value of Ether, and $40,235 value of Dogecoin.
XRP, Cardano, Tron, Litecoin, and Binance Coin have additionally made temporary appearances on the record of wallets topic to the seizure order.
In Might, Hamas, which controls the Gaza Strip, noticed an enormous spike in cryptocurrency donations after a grave escalation of the Palestine-Israel battle.
Strapped for money, the militant group has been organizing Bitcoin fundraizing campaigns for years, even providing step-by-step directions for its supporters.
The Al-Qassam Brigades, one of many wings of the group, has acquired greater than $100,000 value of Bitcoin donations since 2019, in line with the latest findings of Elliptic.