From August 2021 to June of the current grouping Palestinian Islamic Jihad (PSJ), Hamas and Hezbollah received “huge” amounts of digital assets. The Wall Street Journal reports this.
According to Elliptic analysts, PSJ holds more than $93 million in cryptocurrency. According to research by Israeli firm BitOK, Hamas-linked wallets total about $41 million.
Digital assets were also used by the Lebanese group Hezbollah, which received approximately $12 million from PSJ.
Experts were unable to determine whether the cryptocurrency obtained by the terrorists was used directly to finance the recent attack on Israel.
The exact number of confiscated assets has not been established. However, researchers believe that the funds seized constitute an extremely low percentage of the total.
According to analysts, the huge amounts of cryptocurrency indicate the successful efforts of the Israeli and US authorities to combat the financing of terrorism. Almost all ways of obtaining traditional money for prohibited groups are either blocked or closely monitored.
However, digital assets have become one of the main tools for Hamas, along with the delivery of cash into Gaza from Egypt.
“Cryptocurrency is another string in the bow [террористов]“said ACAMS cryptocurrency and illicit finance specialist Joby Carpenter.
Experts also note that Hamas has stopped publicly publishing addresses in order to maintain the anonymity of the “donors.”
The situation in Israel itself is also worsening and is affecting local crypto companies. The founder of the Ethereum staking service SVV Network, Alan Muroch, said that he was drafted into the army.
I got drafted, situation on the ground is significantly worse than described.
Massacre is the only word that comes to mind. 90% civilians (families)
We are turning the tables, it won’t be short nor pretty.
— Alon Muroch (@AmMuroch) October 11, 2023
“I was called, the situation on the ground is much worse than described. “Massacre is the only word that comes to mind,” the developer wrote.
Earlier, The Times Of Israel reported that the Israeli police cyber unit Lahav 433 froze the cryptocurrency accounts of the Hamas group. The Binance cryptocurrency exchange helped the authorities with the blocking.
Let us recall that in June the Israeli government confiscated funds from cryptocurrency wallets associated with the financing of the Hezbollah group and special forces IRGC Quds Force.
According to media reports, since December 2021, local authorities have blocked 189 accounts on the Binance exchange, allegedly related to groups ISIS and Hamas.
Found an error in the text? Select it and press CTRL+ENTER
ForkLog newsletters: keep your finger on the pulse of the Bitcoin industry!