Economics/Class Relations

Hamas Received $41M In Crypto Donations Over 3 Years, Israel Moves To Seize Wallets

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The Islamist-group Hamas and its affiliates have reportedly received substantial amounts of cryptocurrency donations.

What Happened: According to Elliptic, a blockchain analytics platform, Hamas received a staggering $41 million in cryptocurrency donations between August 2021 and June 2023, reported Wall Street Journal.

The data, provided by forensics firm Elliptic and Tel Aviv software company BitOK, revealed the growing concern that cryptocurrencies are being used as a means of financing for groups and nations operating outside the U.S.-controlled global financial system.

Israeli Defense Minister Yoav Gallant acknowledged the difficulty of addressing this issue, stating, “This is not an easy task,” in an interview with the Wall Street Journal.

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