Millions in Cryptocurrency Sent to Hamas Before Israel Attack

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Unveiling Cryptocurrency Transfers

In the months leading up to the recent Israel terrorist attack, Hamas and allied groups received a staggering sum of over $134 million in cryptocurrencies. This alarming discovery raises serious questions about how the group managed to organize and fund such a complex and devastating attack.

Tracking Crypto Flows

Blockchain analysis has shed light on the extent of these transfers, revealing that approximately $93 million in cryptocurrency was channeled to the Palestinian Islamic Jihad (PIJ) between August 2021 and June 2023. This substantial sum highlights the alarming use of cryptocurrencies in financing extremist activities.

Hamas and Cryptocurrency: A Disturbing Connection

Over the past 18 months, Hamas managed to accumulate about $41 million in crypto tokens. This indicates their active engagement in the cryptocurrency realm, which they’ve utilized to finance their activities and evade global financial sanctions. The announcement of suspending cryptocurrency donations in April, citing “safety of donors,” hints at their awareness of the scrutiny they were under.

Countering Cryptocurrency-Enabled Terrorism

In response to this concerning trend, law enforcement agencies and private companies are ramping up efforts to trace cryptocurrency payments through blockchain analysis. Israeli police, in collaboration with international counterparts, have taken measures to freeze cryptocurrency accounts linked to Hamas and halt financial assets that fuel terrorism. This signifies a determination to cut off funding sources for sanctioned entities like Hamas.

Addressing a Global Menace

Hamas, a sanctioned terrorist organization in various countries, has been utilizing cryptocurrency as a means to fund its operations. The international community must remain vigilant and proactive in countering this menace, employing advanced technologies and strategies to curb cryptocurrency-enabled terrorism and protect innocent lives.

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