US officials have taken control of cryptocurrency funds they say were intended to support Hamas.
The Department of Justice (DOJ) announced on March 27 that it had seized a total of $201,400 in cryptocurrency linked to the group.
The action included freezing a crypto wallet containing $89,900 and three additional accounts that together held around $111,500. Authorities believe these accounts helped move over $1.5 million in crypto for Hamas since October 2024.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
NEAR Protocol Explained: Beginner’s Guide to NEAR (Animated)
The FBI’s Albuquerque field office was involved in the investigation. The agency worked with the DOJ to trace and block the cryptocurrencies.
Assistant Director David J. Scott of the FBI’s Counterterrorism Division stated, “Disrupting funding mechanisms and seizing cryptocurrency from Hamas is one of the FBI’s many tools that we use in the fight against terrorism”.
According to the DOJ, a group chat with ties to Hamas allowed supporters to send funds through at least 17 different wallet addresses. The donations were made using an encrypted messaging service. Additionally, the operation relied on help from financial middlemen and crypto brokers.
US Attorney Edward R. Martin Jr. noted, “These seizures show that this office will search high and low for every cent of money going to fund Hamas, wherever it is found, and in whatever form of currency”.
On March 19, Aleksei Andriunin, the founder of Gotbit, agreed to a plea deal with US prosecutors. What happened? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
