The military wing of the Hamas terror group announced on Thursday that it would stop raising funds using the cryptocurrency Bitcoin, citing intensifying "hostile" activity against donors.
The Izz ad-Din al-Qassam Brigades have for several years solicited donations from their supporters via Bitcoin to help counter their financial woes.
Cryptocurrencies apparently provide a high level of anonymity, making them particularly attractive for financing criminal or terrorist activities. Bitcoin has faced criticism from underground websites where people have used the currency to buy drugs and weapons.
Israel and the USA have cracked down on Hamas' cryptocurrency funding efforts, take possession dozens of digital wallets used by the group that rules the Gaza Strip since it launched the initiative in 2019.
In a statement on Thursday, the al-Qassam Brigades said they would end Bitcoin donations "out of concern for the safety of the donors and to prevent them from harm," adding that they had seen an "intensification of hostile efforts against anyone who tries to support". resistance through this currency”.
The terror group has faced financial problems in recent years as banks have tried to ensure they do not deal with the organization.
Illustrative: Masked Hamas members carry a model rocket during a demonstration in the central Gaza Strip on December 12, 2014. (Abed Rahim Khatib/Flash90)
Hamas, which seeks to destroy Israel, is considered a terrorist organization by Israel, the United States, the European Union and others.
Hamas officials say their military wing receives significant support from Iran, though the routes through which these funds are transferred are opaque. Last week, Israel's Defense Minister Yoav Gallant said that Iran provides Hamas with some $100 million annually.
Agencies contributed to this report.
