Hamas militants closely depend on cryptocurrency donations
The Israeli authorities has moved to confiscate 84 cryptocurrency wallets which are linked to the Hamas terrorist group, based on 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 price of crypto.
Hamas militants maintain $3.8 million price of Tether, $3.3 million price of Bitcoin, $51,129 price of Ether, and $40,235 price of Dogecoin.
XRP, Cardano, Tron, Litecoin, and Binance Coin have additionally made transient appearances on the listing of wallets topic to the seizure order.
In Could, 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 price of Bitcoin donations since 2019, based on the current findings of Elliptic.