How Hamas is using cryptocurrency to raise funds

Jhon

9 months ago

Iran has loomed large as one of Hamas's most generous financial backers, providing the militant group with crucial resources it needs to carry out acts of terrorism. But researchers in the United States and around the world have identified another source of income that Hamas is exploiting: remote online donors who offer support in cryptocurrency. Even before Hamas launched a surprise attack on Israel over the weekend, Justice Department officials in Washington, D.C. had been conducting a criminal investigation into the militant group's use of cryptocurrency through alleged money launderers. money, CNN learned. Justice Department lawyers have released scant details of their money laundering case – with most court records sealed – but those that are public reveal that it stems from Hamas-linked cryptocurrency accounts that the US government confiscated three years ago. A court filing from May said the case was “ongoing” and a judge halted proceedings in a related civil matter until next month to allow the criminal case to continue without interference. Separately, cryptocurrency addresses that Israel has seized for alleged ties to Hamas and another Palestinian militant group have together been worth tens of millions of dollars, according to private analysts who spoke to CNN. Hamas's use of digital currency represents just one of many ways the group (designated a terrorist organization by the United States and the European Union) has sought to raise funds while evading sanctions. “There is no single financing method for Hamas or other terrorist organizations. They are opportunistic and adaptable,” said former CIA analyst Yaya Fanusie, now an adjunct fellow at the Center for a New American Security. "Efforts to stop them are a constant game of cat and mouse."

Complete investigation: How Hamas uses cryptocurrencies to raise funds. "They are opportunistic and adaptable."